I Invest in FIIs. Reading the Reports Is a Nightmare

I invest in more than 10 Brazilian FIIs (Fundo de Investimento Imobiliário). You can easily purchase them via your online broker. The funds pool investor money to invest in real estate assets either directly by buying properties and renting them out or indirectly by providing loans for residential or commercial real estate development.

The benefits here are tax-free dividends and not needing to manage any properties yourself while being exposed to the real estate sector. Since I am following a global diversified strategy and want to increase the amount of "passive" income I receive monthly it makes sense for me to have some exposure to this asset class.

You can quickly screen the funds and check for qualitative metrics such as Dividend Yield, and Price to Net Asset Value and further investigate the funds by reading the monthly reports that they provide to understand the fundamentals.

However keeping track of fundamentals by reading all reports each month quickly becomes a time-consuming endeavor. You need to read the reports to check if fundamentals are still solid–no surprise fund portfolio shifts, no silent tenant exits, no creeping risks.

Honestly, it's exhausting.

Most of these reports are 10-30 pages long, packed into PDFs. There's no standard formatting. Some use charts, others don't. Some bury the real info under layers of boilerplate. I'm often digging through text just to answer one question:

Did anything important change?

With the continuing advancement of LLMs with large context windows and multi-modality I started thinking if AI could help with this. What if I could feed each monthly report into a model like Gemini 2.5 Pro and get back:

• Key portfolio changes
• Risks and red flags
• Major events
• Strategy shifts

Stuff that actually matters and indicate changing fundamentals that may invalidate the initial investment hypothesis. It may even be possible to track those changes over time to see qualitatively how a fund is worsening or improving.

I'm going to test this idea with a new project.

I'm building a small system that takes FII reports and summarizes them using Gemini 2.5. The goal is to eventually have something that automatically feeds monthly reports into the model and get back useful summaries of what changed.

It'll be rough, experimental and mostly for my own use. If this works it could save me hours each month–and maybe help other investors too.

I'll post updates and real examples here to share what I'm building to solve my problem. Summarized PDF report content will be in Portuguese so this may be more interesting to Portuguese speakers who also invest in these funds.