Harmonised monthly panel of Brazilian receivables investment funds (FIDCs) from CVM regulatory filings, 2013-2025

Description

A fund-month panel of Brazilian receivables investment funds (Fundos de Investimento em Direitos Creditórios, FIDCs) built from the monthly regulatory filings submitted to the Comissão de Valores Mobiliários (CVM), the Brazilian securities regulator. It covers 156 consecutive months from January 2013 to December 2025, with 195,058 fund-month observations for 5,319 longitudinal fund units across 500 variables. The contribution is the consolidation rather than the raw filings, which CVM publishes monthly. CVM changed both the layout and the reporting entity of the FIDC monthly informe when Resolution 175 took effect for filings from January 2024: the reporting entity moved from the fund, identified by its own CNPJ, to the share class, identified by a class CNPJ. Building a panel that spans the two regimes requires reconciling the reporting unit, aligning ten separate informe tables onto a single fund-month row, and resolving duplicate keys. This dataset does that once and documents the result variable by variable. This is the exact file used in the empirical analysis of the dissertation it accompanies, deposited unmodified rather than cleaned for publication, so that anyone re-estimating the models works from byte-identical input. The accompanying README documents the consequences of that choice in full, including that most numeric columns are stored as text and must be coerced, that internal provenance columns are present, and a list of eleven known limitations and source defects. Variables cover portfolio composition by asset type and by economic segment, receivables split by transfer of risks and rewards, delinquency and prepayment by maturity bucket, impairment allowances, liabilities, net assets, purchases and sales of receivables during the month, discount rates, and, for each share class, unitholder counts by investor type, units outstanding, unit values, returns, liquidity buckets and regulatory risk classification. No derived variables are included: ratios, lags, winsorised variants and concentration indices depend on modelling choices that belong to the analyst. The dataset contains personal data. A minority of filings identify a receivables assignor by CPF, the Brazilian personal tax number; 303 distinct values occur across 2,617 records, reproduced exactly as published by CVM in its open data files. The README carries a dedicated notice on this, and reusers who do not need assignor identity should drop those columns.

Steps to reproduce

The source is the CVM Open Data Portal, dataset "FIDC: Documentos: Informe Mensal" (https://dados.cvm.gov.br/dataset/fidc-doc-inf_mensal), which publishes one CSV per informe table per period. The monthly files for January 2013 to December 2025 were downloaded and consolidated onto a single fund-month row keyed by a harmonised longitudinal identifier: the share-class CNPJ when the filing reports one, otherwise the fund CNPJ. Duplicate key rows were resolved by keeping the first occurrence in source-file order. 358 columns arriving as text were coerced to 64-bit floats, handling both decimal-point and Brazilian decimal-comma notation. The conversion was verified against an independent re-parse of the source: non-null counts matched exactly and column sums agreed to floating-point precision. 60 columns were dropped as internal parser fields, per-table duplicates of identity columns verified to agree with the retained column, one empty column, and a redundant date. Assignor identifiers were validated, with CNPJs kept and non-CNPJ identifiers pseudonymised. No value was imputed, interpolated, winsorised, deflated or otherwise adjusted. Each row records the CVM source file it came from, in the _src_file columns, so any observation can be traced back to the published original. The README documents the processing chain in full, including the two single-cell repairs of source defects.

Institutions

• Universidade Regional de Blumenau

  Santa Catarina, Blumenau

Categories

Funders

• Coordenação de Aperfeicoamento de Pessoal de Nível Superior

  Ministry of Education

  Federal District, Brasília

  Grant ID: Finance Code 001

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