Consortia charge almost BRL 1 billion to manage money forgotten by shareholders

The money that is stuck in consortium groups that have already ended, known as Resources Not Sought (RNP), generated almost R$ 1 billion in fees charged by companies in the sector to manage these resources.

According to data from the Panorama of the 2021 consortium system, prepared by the Central Bank, there were BRL 2.16 billion left by shareholders in consortium groups that have already been terminated, a balance 9% lower than that calculated at the end of 2020.

According to the BC itself, this decline was mainly caused by the 14.6% increase in permanence fees, which are charged by administrators to take care of this money left by consortium members.

According to Abac (Brazilian Association of Consortium Administrators), when a consortium group comes to an end, it is possible that some resources remain in the common fund, such as credit from participants contemplated and not contemplated, values ​​of excluded members that were not redeemed and even even leftover reserve funds, for example.

From then on, companies have 60 days to communicate the existence of these resources to active and excluded consortium members, who have 30 days to request redemption. After that period, the consortium starts to administer the unclaimed money.

According to Abac, it is at the administrator’s discretion to charge a monthly fee on amounts not redeemed, in accordance with what is stated in the contract.

growing market

The BC report shows that administrators won 3.41 million new quotas in 2021, reaching a balance of almost 8.5 million active quotas at the end of last year. There were 1.34 million quotas covered in the period.

There were BRL 70.9 billion collected by companies in the year, an increase of 20.8% compared to 2020. The volume of contributions to be received reached BRL 323.2 billion, an increase of 27.2% in one year. The consortium portfolio rose 22.8%, reaching R$75.8 billion.

The average management fee charged by administrators rose 0.43 percentage points in one year, reaching 16.9%.