Nu Asset Management, Nubank’s (NYSE: NU) investment fund manager, announces the launch of Nu Ibovespa B3 BR+ (NBOV11), the first ETF on the market indexed to Ibovespa B3 BR+. The new fund is now available for trading on B3.
The Ibovespa B3 BR+ is a comprehensive index “that combines the companies participating in the Ibovespa B3 with Brazilian companies listed abroad that have Brazilian Depositary Receipts (BDRs) traded in Brazil via B3.”
With the NBOV11, investors now have a “more comprehensive investment alternative to diversify their strategies in the capital market.”
Moreover, it is the first ETF on the market that “brings together the major Brazilian companies listed on B3 through common stocks, preferred stocks, and BDRs when listed abroad.”
Andrés Kikuchi, Executive Director of Nu Asset Management:
“The launch of NBOV11 reinforces Nu Asset’s commitment to the development of the ETF market in Brazil and, in this initial phase, to expanding variable income alternatives for investors. The attributes of efficiency and transparency inherent in this type of fund allow us to develop innovative, high-quality investment solutions that are always aligned with the real needs we identify in the market.”
The NBOV11 has an annual management fee “of 0.10% and T+2 liquidity, allowing for easy buying and selling of shares through any brokerage.”
The initial investment will be R$100.00 at the “opening of the negotiations.”
The portfolio composition includes stocks and BDRs traded “on B3 that meet all the criteria of the index methodology.”
The Ibovespa B3 BR+ index was developed with “the potential to be an evolution of Ibovespa, the most traditional and recognized index in the market, launched in 1968.”
With the addition of BDRs from “significant Brazilian companies listed abroad, the new index includes a total of 91 assets, with a quarterly rebalancing.”
In the portfolio on September 19, Nubank’s BDR is the “second most significant asset in the index, with a weight of 8.3%.”
