Nu Asset, Nubank’s (NYSE: NU) investment manager, has recently unveiled the launch the Nu Letras Financeiras da Anbima (NLFA11), which is described in the announcement as its new ETF that arrives in order to complement the fixed-income shelf. The fund is reportedly one of the first to replicate the Anbima Financial Bills Index (ILFA), which had been developed by the association itself at the request of Nu Asset “to debut an ETF from the manager in the local private credit market.”
As noted in the update from Brazil‘s Nubank, the NLFA11 was designed to be a fixed-income solution “aligned with market best practices, seeking to meet a relevant and growing demand for high-quality, low-risk, and liquid private credit strategies.”
The ETF will be available for trading “starting Dec 17 and will join Nu Asset’s ETF portfolio, which covers fixed income, credit, equities, cryptocurrencies.”
NLFA11 will be traded on the exchange “with T+1 settlement (one business day) and will have a global fee of 0.25% per year, replicating the ILFA developed by ANBIMA, which provides the indicative curves and rates that serve as the standard for pricing and constructing the main fixed-income and credit indices in the market, being the main reference in the Brazilian market for fixed-income indices and asset pricing.”
The taxation on capital gains from the sale of shares “will be 15% and without the incidence of IOF.”
Nu Asset reports that it currently has “R$6.4 billion under management, 26 investment funds, and 1.4 million shareholders.”
Its team uses data science and tech in order to create a range of investment solutions.
Among its milestones are the launch of the ETF to “distribute dividends on the B3 in 2023 (NDIV11), the first smart betas of the Bovespa index – which also include Low Volatility (LVOL11) and High Beta (HIGH11).”
Additionally, there is the private credit ETFs that is said to be “hedged to the Real – Nu Iboxx Investment Grade Hedge Carry BRL (HGBR11) and Nu Iboxx High Yield Hedge Carry BRL (HYBR11) – and the Bitcoin futures contract ETF on the B3 – Nu Nasdaq Brazil Bitcoin Carry Futuros (NBIT11).”
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