What ARX Investimentos does

ARX Investimentos is a Brazilian third-party asset management firm founded in 2001 and controlled by BNY (BNY Mellon) since 2008, headquartered in Rio de Janeiro with a secondary office in São Paulo. The firm manages approximately R$ 51 billion in assets under management across five complementary strategies: Equities (ARX Income, ARX Long Term), Macro/Multimarkets (ARX Extra, ARX Macro), Corporate Debt (ARX Fuji, ARX Denali, ARX Vinson, ARX Everest), Real Estate Receivables (ARX Dover, ARX Chillon, ARX FII Portfólio Renda CDI+), and Cash/DI Funds (ARX Soberano), with an additional Pension Fund (Previdência) lineup distributed through Icatu Seguros PGBL/VGBL plans. The investment process is described as collaborative and team-based, supported by a 53-person team of CFA, FRM, and CQF-credentialed professionals drawn from Brazilian and international buy-side firms.

The firm's revenue model is a standard asset management fee structure: recurring management fees ranging from 0.10% to 2.94% per annum depending on strategy and share class, billed monthly, supplemented by performance fees on certain funds (e.g., 20% over CDI benchmark for multimarket funds). Distribution is exclusively B2B through direct institutional sales and strategic channel partnerships, including exclusive arrangements with XP Investimentos for ARX Hedge and the ARX FII Portfólio Renda CDI+, BTG Pactual for ARX Chillon FII and administration services, and Icatu Seguros for pension fund distribution. Operational infrastructure, custody, and administration are integrated with BNY Mellon Banco and BNY Mellon DTVM, providing institutional-grade compliance and risk frameworks.

ARX holds the Moody's Local MQ1.br rating (highest tier, reaffirmed February 2026) and a Fitch IMQ Strong rating with positive outlook, reflecting its established investment process and governance. The technology stack is conventional asset management infrastructure built around risk analytics, portfolio management systems, and compliance tooling, with no disclosed proprietary AI/ML capability or platform offering. Recent strategic activity has centered on expansion into the real estate receivables FII category through three new product launches between March 2023 and mid-2024, broadening retail and qualified-investor reach beyond the traditional institutional core.

Name

ARX Investimentos

Legal name

ARX Investimentos

Website

https://arxinvestimentos.com.br

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

51–100 employees

Short description

ARX Investimentos is a Brazil-based third-party asset manager controlled by BNY Mellon since 2008, managing R$ 51 billion across equities, multimarket, corporate debt, real estate, cash, and pension fund strategies for institutional and qualified investors via direct and partner distribution channels.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525), Open-End Investment Funds (525910)

SIC

Investment Advice (6282), Real Estate Investment Trusts (6798), Asset-Backed Securities (6189)

akta.pro primary industry

Multi-Asset Solutions for Institutional (Pensions/Endowments/Sovereigns) (FSAAAJAJ)

akta.pro secondary industries

Multi-Asset Absolute Return & Diversified Macro Funds (FSAAAJAH), Multi-Sector / Total Return Fixed Income (FSAAAHAJ), Multi-Asset Income Funds (Diversified Income) (FSAAAJAG)

Keywords

• Institutional asset management
• Investment fund management
• Private credit funds
• Real estate receivables
• Fixed income management

Headquarters

HQ city

Rio De Janeiro

HQ country

Brazil

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Management Fees: ARX charges annual management fees on its funds, ranging from 0.10% to 2.94% p.a. depending on fund strategy and share class. Fees are typically paid monthly.
2. Performance Fees: Some funds charge performance fees, such as 20% of returns exceeding CDI benchmark for multimarket funds, aligning manager and investor interests.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

ARX Investimentos manages third-party assets through a diversified platform of investment funds spanning five complementary strategies: Equities (dividend-focused and free-stock funds), Multimarkets/Macro, Corporate Debt (private credit and infrastructure debt under Law 12.431/11), Real Estate (FII receivables funds), and Cash/DI funds, as well as Pension/Previdência fund vehicles distributed via insurance partners. The firm manages approximately R$ 51 billion in assets under management on behalf of institutional, qualified, and pension investors, primarily in Brazil.

Product overview

ARX Investimentos operates as a diversified asset management platform offering multiple fund families across six core strategies: Equities (ARX Income, ARX Long Term), Macro/Multimercados (ARX Extra, ARX Macro), Corporate Debt (ARX Fuji, ARX Denali, ARX Vinson, ARX Everest), Infrastructure Debt (ARX Elbrus, ARX Elbrus PRO, ARX Hedge), Cash/DI Funds (ARX Soberano), and Pension/Previdência (ARX Income Prev, ARX Denali Prev, ARX K2). The company has recently expanded into Real Estate/Imobiliário with three FII products (ARX Dover, ARX Chillon, ARX FII Portfólio Renda CDI+) targeting real estate receivables. The product architecture follows a master-feeder structure where most funds invest 95%+ in their respective master funds, with administration provided by BNY Mellon and distribution through partners like XP Investimentos and Icatu Seguros.

Differentiator

Problem solved

Functional benefit

Brands

• ARX Income: Equity dividend-focused investment strategy under ARX Investimentos, investing in companies with high dividend-to-price ratios.
• ARX Long Term
• ARX Extra
• ARX Macro
• ARX Fuji
• ARX Denali
• ARX Vinson
• ARX Everest
• ARX Elbrus
• ARX Elbrus PRO
• ARX Hedge
• ARX Soberano
• ARX Dover Recebíveis FII
• ARX Chillon Recebíveis FII
• ARX FII Portfólio Renda CDI+

Products and services

• ARX Income FIC FIF Ações Dividend-focused equity fund that invests in publicly traded companies with high dividend-to-price ratios and solid valuation fundamentals, aiming for long-term capital preservation and income generation. Targeted at investors seeking equity income.
• ARX Long Term FIC FIF Ações Free stock fund focused on long-term capital appreciation through fundamentalist analysis of approximately 20 companies, seeking absolute returns not correlated to market indexes.
• ARX Extra FIC FIF Mult Macro multimarket fund seeking to exceed CDI through investments in interest rates, foreign exchange, commodities, and stock markets, with risk allocation between MACRO and LONG&SHORT sub-strategies. Inception date December 23, 2003.
• ARX Macro FIC FIF Mult Macro multimarket fund seeking to exceed CDI through derivatives in domestic and international markets, with aggressive management and no limitation on equity exposure. Inception date April 25, 2014.
• ARX Fuji FIC FIF RF CP Short duration investment grade corporate debt fund investing primarily in financial institution assets (bank assets) through its master fund ARX Fuji Master FIF RF CP, seeking to exceed CDI. Launched September 29, 2023.
• ARX Denali FIC FIF RF CP Corporate debt fund investing in private credit assets and federal government bonds, with active portfolio management and liquidity focus maintaining 30-40% in post-fixed government bonds. Launched June 19, 2019.
• ARX Vinson FIC FIF RF CP Corporate debt fund investing in private credit assets and federal government bonds, with active risk management maintaining 15-25% in post-fixed government bonds for liquidity.
• ARX Everest FIC FIF RF CP Qualified investor corporate debt fund investing in private credit and government bonds with extensive credit risk monitoring and market arbitrage opportunities.
• ARX Elbrus FIC Fundo Inc Inv Financ Infra RF Infrastructure debt fund maximizing returns through allocation in assets funding infrastructure projects under Brazilian Law 12.431/11, benchmarked to IMA-B5. Launched July 29, 2020.
• ARX Elbrus PRO FIC Fundo Inc Inv Financ Infra RF Infrastructure debt fund with free duration investing in assets for infrastructure projects under Law 12.431/11, with risk-return-liquidity analysis and market-making operations.
• ARX Hedge FIC Fundo Inc Inv Financ Infra RF Exclusive infrastructure debt fund for XP Investimentos clients, hedging portfolio for CDI to eliminate market risk while investing in Law 12.431/11 infrastructure projects.
• ARX Soberano FIF RF Ref DI Short duration cash fund investing in post-fixed government bonds aiming to track CDI variation in the short term for capital preservation. Launched May 28, 2020. Minimum investment R$ 1,000; management fee 0.18% p.a.
• ARX Income Prev Master FIF Ações Active pension fund investing primarily in carefully selected stocks for long-term returns through investment in companies with growth potential and good dividend distribution prospects. Launched April 12, 2019.
• ARX Income Icatu Prev FIF Mult One of Brazil's oldest pension funds providing liquidity, protection and returns to PGBL and VGBL plans through balanced stock and fixed income investments. Inception date September 21, 2000.
• ARX Denali Prev FIF RF CP

Quantifiable outcome

• MQ1.br rating (highest level) from Moody's Local for Investment Manager Quality
• +1 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Four partnerships are on record, tiered core and minor.

• Icatu SeguroscoreChannel Partner/ Reseller/ DistributorStrategic distribution partnership for pension fund products. ARX manages funds exclusively receiving resources from PGBL and VGBL plans of Icatu Seguros, one of Brazil's leading insurance companies.
• XP InvestimentoscoreChannel Partner/ Reseller/ DistributorExclusive distribution partnership for ARX Hedge FIC (infrastructure debt fund) and ARX FII Portfólio Renda CDI+ (real estate receivables fund). XP distributes these products to its extensive client base.
• BTG PactualcoreChannel Partner/ Reseller/ DistributorPartnership for distribution of ARX Chillon Recebíveis FII (real estate receivables fund) and administrative services. BTG Pactual provides fund administration through its platform.
• Hedge InvestmentsminorChannel Partner/ Reseller/ DistributorHedge Investments serves as fund administrator for ARX Dover Recebíveis FII, providing back-office and regulatory compliance services.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• SPX Capital: Independent Brazilian asset manager with multi-strategy funds spanning equities, macro, credit, and pension strategies. Directly competitive with ARX in the institutional Brazilian asset management market.
• Vinci Partners: Brazilian alternative-focused multi-asset manager listed on Nasdaq with diversified strategies across equities, credit, real estate, and infrastructure. Directly comparable in product breadth and institutional client focus, with similar multi-strategy platform model.
• Gávea Investimentos: Rio de Janeiro-based alternative asset manager (private equity, credit, and macro strategies). Headquartered in the same city as ARX and a comparable Brazilian multi-strategy institutional asset manager with ties to the broader financial industry.
• Verde Asset Management: Independent Brazilian macro/multi-strategy hedge fund manager with strong institutional following. Directly comparable in macro and credit offerings and a direct competitor for sophisticated Brazilian institutional and family office capital.
• BTG Pactual Asset Management: Largest Brazilian independent asset manager and ARX's distribution partner. Operates across equities, macro, credit, real estate, and pension strategies - directly overlapping with ARX's product set and serving similar institutional and retail clients in Brazil.
• XP Inc. Asset Management: Asset management arm of XP Investimentos, ARX's exclusive distribution partner. Operates funds across multiple strategies and serves similar retail and HNW client base via XP platform. Directly competes in Brazilian mutual fund and FII space.

Broad incumbents

• Itaú Asset Management: Brazil's largest asset manager within Itaú Unibanco. Competes with ARX across virtually every strategy including equities, fixed income, multi-market, and pension funds, with much greater scale and balance-sheet backing.
• Santander Asset Management: Brazilian asset management arm of Santander. Overlaps with ARX in fixed income, credit, multi-market, and pension fund strategies and competes for institutional and retail mandates through Santander Brasil distribution.
• BB Asset Management: Asset management subsidiary of Banco do Brasil managing one of Brazil's largest fund complexes. Competes with ARX across fixed income, multi-market, equities, and pension strategies with strong retail distribution via Banco do Brasil network.

Emerging players

• Trilha Asset Management: Independent Brazilian asset manager with private credit and macro strategies. Comparable on product offering side but smaller in scale, representing an emerging competitive threat to ARX's corporate debt franchise.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/arx-investimentos
• Instagraminstagram.com/arxinvestimentos

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ARX Investimentos