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Undode-Zttuestimentoem.Agnesrvh www.pwc.com.for .Z;'undode-Zttuestimentoem.AgnesRVH EMBll (CNPJ ng i3.294.268/oooh-25) CAdminisn"ado reza B.EM - Disk).ibuidora de llTtuZos e VaZoresMobiZi6l'ios .Lada.) I)emonsh"agnes contdbeis em 3z de margo de zozg ereZat6l'io do auditor independence .B pwc .b pwc ReZat6rio do auditor {ndependente sabre as demonsn'agnes cont6beis Aos Cotistase aAdministradora Fundo de Investimento em AQ6esRVA EMB ll (Administrado pda BEM - Distribuidora de Titulos eValores Mobilifrios Ltda.) Opiniao Examinamos asdemonstrag6escontfbeis do Funds de Investimento em AgnesRVA EMB ll ("Fundo"), que compreEndemodemonstrative da composlgaoediversificagaoda caiteira em 3ide margode 20lg ea demonstragaoda evolugaodo patrim6nio liquids para o exercicio ando nessadata. bem como as correspondentesnotasexplicativas, incluindo o resume dasprincipais political contfbeis. Em nossaopiniao, asdemonstrag6escontfbeis acima referidas apresentam adequadamente,em todos os aspectosrelevantes,a posigagpatrimoniale financeira do Funds'de Investimento em AgnesRVA EMB ll em 31demargo de 20ig eo desempenhode suasoperag6esdoexercicio linda nessadata, de acordo com aspraticas contgbeisadotadasno Brasil, aplicaveis aosfundos de investimento regidospda InstruQao nu555 Baseparaopiniao Nossaauditoria foi conduzida deacordo comas normas brasileiras e internacionais de auditoria. Nossas responsabilidades,em conformidade com tais normal, est5odescritasna segaoaseguir, intitulada Responsalilidades do auditor pda auditoria dasdemonstrag6escontibeis". Somosindependentesem relaQaoaoFunds, de acordo com os principios 6ticos relevantesprevistos no C6digo delltica Pro6ssional do Contador e nas normasprofissionais emitidas pelo ConselhoFederal de Contabilidade, e cumprimos com asdemais responsabilidades6ticasconforme essasnormal. Acreditamos que a evid6nciade auditoria obtida 6suficiente eapropriada para fundamentar nossaopiniao. Principais Assuntos de Auditoria Principais Assuntos de Auditoria(PAA) sio aquelesque,emnossojulgamento professional,foram os mais significativos em nossaauditnHndn exercicio corrente. Easesassuntosforam tratados no contexto de nossa auditoria das demonstrag6escontfbeis coma um todo e na formag5o de nossa opiniao sabre essay demonstrag6es contfbeis e, portanto, Porque 6umPAA nio expressamos uma opiniao separada sobre easesassuntos PMcewafer/zouseCoopers,4Z.]Uamord,989, 2.z. 22' e 23', Cord. EdiFcio Crysttzl Tower, Bal'ueri, SP, Brasil 06454-o40: T: (]].) 3674-2000, www.pwc.com/for .B pwc Fundo de Investimento em Agnes RVA EMB ll (Administrado pda BEM - Distribuidora deTitulos eValores Mobilifrios Ltda.) C Porque 6 um PAA auditoria Exist6ncia e mensuragao dos investimentos Conforme apresentadono Demonstrative da Nossosprincipais procedimentos de auditoria ComposigaoeDiversificagao da Carteira, as consideraram, entre outros: aplicag6esdo Fundosgocompostas, principalmente, por aQ6es. Obtivemos entendimento do desenhoe testamosa efetividade dos principais controles estabelecidos A exist6nciadessasaplicag6es6asseguradapor para exist6nciaemensuragaodosinvestimentos do meir de conciliag6escom asinformag6es do 6rgao Funds. custodiante B3 S.A - Brasil, Bolsa,Balcio. Efetuamostestesquanto aexist6nciadessas A mensuragao das agnes6 obtida por meio de aplicag6espor meir do conftonto dasinformag6es cotaQaodivulgada nas bolsasdevalores. constantes na composigao e diversificagao da carteira do Funds com as informag6es do 6rg5o Considerando a relevfncia dessasaplicag6es em custodiante. relagao ao patrim6nio liquido do Funds e a consequente apuragao do valor da cota, a exist6ncia Comparamos, em base de teste, os valores utilizados e mensuragao dessasaplicag6es foram consideradas para a mensuraQao desses investimentos com os areasdeloco em nossaauditoria. pregosdivulgados nas bolsas de valores. Nossosprocedimentos de auditoria proporcionaram evid6ncia apropriada e suficiente sobre a exist6ncia e mensuragaodessasaplicag6esdoFunds. .+ pwc Funds de Investimento em AgnesRVA EMB ll (Administrado pda BEM - Distribuidora de Titulos eValores Mobilifrios Ltda.) gao e da govelglnca nel!! demonstrag6es contfbeis permilir aelaboragaode demonstrag6escontibeis livres de distorgao relevante,independentementerse causada pork'aude ou errs. :''" '-"'-' "'--r Na elaboragaodasdemonstrag6escontgbeis,a administragao 6responsavelpda avaliagaoda capacidade de o.Fundocontinual opgrando, divulgando, quando aplicavel, osassuntosrelacionadoscom a sua continuidade operacionale o.usodessabasecontgbil na elaboragaodasdemonstrag6escontgbeis.A conunuiaaae Qasopera96esdeum funds deinvestimento 6, adilionalmente, dependente daprerrogativa dos cotistas em resgatar suascotasnos termos do regulamento do Fundo. ''"--'"' " l"v ' -vb Os responsgveis pda governanga do Funds s5o aqueles com responsabilidade pda supervisao do processo :B$ auditoria dag demonstrag6es contfbeis W Hi:KSSBR%SumSUaB&$$$$W demonstrag6escontfbeis. Comoparte deuma auditoria realizada de acordo com asnormas brasileiras einternacionais deauditoria. exercemosjulgamento profissionale mantemos ceticismo professionalao longs da auditoria. A16mdisso Identificamos e avaliamos osriscos de di?torgao relevantenas demonstrag6escontgbeis, independentemente. secausada por fraude ou erm, planqamos e executamos pmcedimentos de conluio, falsificagao,omiss5o ou representag6esfHsasintencionais. '''-' -- vvu -'-'b''-vD, Obtemos entendimento dos controles.internos relevantespara a auditoria para plandarmos :mg:5=':e8:gl:R:H:ll:E:%l:'=:liS:«:mu;a'iM;M &;;al ;:,'m.; Avaliamos a.adequagaodaspolitical.contabeis utilizadas ea razoabilidade das estimativas contibeis e respectivasdivulgag6esfeitas pda administragao. Concluimossobre a adequagaodo uso,pda administragao, da basecontfbil decontinuidade open?clonal elcom base nas evid6ncias;ie auditoria obtidas! seexiste inceHeza relevante em relagao a eventos.oucondig6esquepossam.lev?ntardiivida significativa em rela$aoacapacidadede" ' continuidade operadonal do Fundo. Seconcluirmos que existe incertel;a relevante devemoschamar atengaoem nossorelat6rio de auditoria para as.respectivasdivulgag6esnas demonstmg6escontgbeis ou incluir.modificagao em nolsa opinlao, se asdiwlgag6es forem inadequadas.Nossascondus6es estio fundamentadas nas evid6nciasde auditoria obtidas at6 a data de nossore at6rio' Todavia eventosou condig6esfuturas podem levar o Fundo a n5omais semantel em continuidade operacional 4 .B pwc Funds de Investimento em AgnesRVA EMB ll (Administrado pda BEM - Distribuidora de Titulos e Valores Mobilifrios Ltda.) Avaliamos a apresenta$io gerd, a estrutura e o conteQdo das demonstrag6es contabeis, inclusive as divulgag6es e seessaydemonstrag6es contibeis representam ascorrespondentes transag6es e os eventos de maneira compativel com o objetivo de apresentagao adequada. Comunicamo-nos com os responsaveis peta governanga a respeito, entre outros aspectos, do alcance planqado, da 6pocada auditoria edasconst;tag6es significativas de auditoria, inclusive as eventuais defici6nciassignificativas nos controles internos queidentificamos durante nossostrabalhos. Dosassuntosque foram objeto decomunicagaocom os responsaveispda governanga,determinamos aquelesqueforam consid?radoscomamais significativos na auditoria das demonstl:agnescontgbeis da exerciciocorrente e que,dessamaneira, constituem os principais assuntosde auditoria. Descrevemos essesassuntosem nossorelat6rio de.auditoria, .amenos quelei ou regulamento tenha proibido divulgaQao publica do assunto!ou quando, em circunstincias extremamenteraras, determinarmos que o assunt:l';go deve ser comunicado em nosso relat6rio porque asconsequ6ncias adversas de tal comunicagao podem, dentro deuma perspectivarazofvel, superar osbeneficios dacomunicagaoparao interessepablico BarueriL24 dejunhode 20lg CRC2SP Lu Co '0-i Demonstrativo da Composição e Diversificação da Carteira Mês/Ano: 31 de março de 2019 Nome do Fundo: Fundo de Investimento em Ações RVA EMB II CNPJ: 13.294.268/0001‐25 Administradora: BEM ‐ Distribuidora de Títulos e Valores Mobiliários Ltda. CNPJ: 00.066.670/0001‐00 Aplicações ‐ Especificações Espécie / Quantidade Cotação por lote Custo Mercado / % sobre o Forma de mil ou Preço Total Realização patrimônio unitário (*) – R$ R$ mil R$ mil líquido Disponibilidades 10 ‐ Banco conta movimento 10 ‐ Aplicações Interfinanceiras de liquidez 23.959 23.959 3,30 Letras do Tesouro Nacional 31.413 23.959 23.959 3,30 Ações 641.375 698.191 96,28 Petróleo Brasileiro S.A. PN 2.764.559 28,06 67.821 77.573 10,70 Banco Bradesco S.A. (a) PN 1.570.620 42,94 57.465 67.442 9,30 Itaú Unibanco Holding S.A. PN 1.705.837 34,43 58.084 58.732 8,10 Vale S.A. ON 1.127.695 50,93 54.627 57.433 7,92 Cia Bebidas das Américas‐Ambev S.A. ON 1.971.405 16,83 41.206 33.179 4,55 B3 S.A – Brasil, Bolsa, Balcão ON 976.443 32,12 26.439 31.363 4,33 Azul S.A. PN 750.300 38,27 26.133 28.714 3,96 Energisa S.A. UNT 680.860 40,55 23.989 27.609 3,81 ALL ‐ América Latina Logística S.A. ON 1.021.700 19,15 15.699 19.566 2,70 Cia. Brasileira de Distribuição PN 193.400 91,46 15.152 17.688 2,44 Cia. Energética de Minas Gerais ‐ CEMIG ON 1.023.800 16,70 10.205 17.097 2,36 Petrobras Distribuidora S.A. ON 719.000 23,15 16.627 16.645 2,30 IRBR BRASIL RE ON 181.000 91,25 8.841 16.516 2,28 Cia. de Concessões Rodoviárias ON 1.315.400 11,74 14.669 15.443 2,13 Cielo S.A. (a) ON 1.623.642 9,49 20.804 15.408 2,12 B2W ‐ Companhia Global do Varejo ON 361.000 42,22 12.938 15.241 2,10 Banco do Brasil S.A. ON 303.900 48,72 11.779 14.806 2,04 Petróleo Brasileiro S.A. ON 440.600 31,15 10.647 13.725 1,89 Iguatemi Empresas de Shopping Centers
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