Founded in 2006, XP Asset Management is one of the largest real estate investment fund managers in Brazil. The firm oversees a diverse portfolio of FIIs (Fundos de Investimento Imobiliário), including shopping centers, logistics facilities, CRIs, hotels, and fund-of-funds strategies. XP Asset is part of XP Inc., a major Brazilian investment manager listed on the NASDAQ (ticker: XP), with a market capitalization of approximately US$10 billion.
XP’s REIT offerings are among the most widely held in the Brazilian market, spanning multiple property segments. Many of these funds focus on long-term lease agreements with inflation-linked rental income. Several XP-managed FIIs also have significant weightings in both the IFIX index and the HERT11 ETF.
As of 2025, XP manages R$197 billion in assets and employs over 170 professionals across a wide range of investment strategies.
You can visit XP’s website here.
Last updated June 27, 2025.
🔍 Key FIIs Managed by XP
| Ticker | Fund Name | Segment | Market Capitalization |
|---|---|---|---|
| XPML11 | XP Malls | Shopping | R$5.8B |
| MXRF11 | Maxi Renda | CRI | R$4.1B |
| XPLG11 | XP Log | Logistics | R$3.1B |
| XPCI11 | XP Crédito Imobiliário | CRI | R$0.7B |
| HABT11 | Habitat Recebíveis | CRI | R$0.7B |
| XPHT11 | XP Hotels | Hotels | R$0.4B |
| XPSF11 | XP Selection FOF | Fund-of-Funds | R$0.3B |
| XPIN11 | XP Industrial | Logistics | R$0.1B |
Note: XP manages additional FIIs not included in this list. Only major publicly traded funds with material AUM or liquidity are shown.
📊 Real Estate Investment Strategy
XP Asset Management does not follow a single unified REIT strategy. Instead, it manages a broad lineup of FIIs designed for different market segments, asset classes, and investor goals.
Some of its funds, like XPML11 (shopping) and XPLG11 (logistics), focus on stabilized, income-generating assets with long-term, inflation-linked leases. Others, like XPCI11 and MXRF11, emphasize real estate-backed credit (CRI) and hybrid strategies.
Across these products, XP often emphasizes liquidity, scale, and accessibility, reflecting its position as one of the country’s largest investment platforms.
Most XP-managed FIIs charge a base administration fee calculated as a percentage of assets under management (AUM). In addition, many funds include a performance fee tied to returns exceeding an inflation-linked benchmark, typically IPCA + X%. These incentives align the manager’s compensation with inflation-adjusted performance but may impact net returns depending on fund structure.