Historical series Itaú Asset launches two new ETFs for the Brazilian market
B3BR11 (Variable Income) and IDKA11 (Fixed Income) expand Itaú Asset’s product offering and offer new allocation possibilities for investors
November, 2024 – Itaú Asset, a Brazilian asset manager with more than R$1 trillion in assets under management, announces the launch of two new ETFs for its investor clients. B3BR11 and IDKA11 have been designed to fill gaps identified in the domestic market and are already available for allocations. With these two new options, Itaú Asset’s index fund shelf reaches 22 products – the largest in the country – covering options in the Fixed Income, Variable Income, International Variable Income and Crypto Assets segments.
B3BR11 replicates the Ibovespa B3 BR+, an index that includes Ibovespa shares and BDRs of Brazilian stocks traded in the US. The minimum investment at launch is R$50.00, with a total fee of 0.10%. The ETF also allows the rental of up to 70% of the portfolio, generating additional return for the quota.
IDKA11, on the other hand, follows the IRF-M P3 index – calculated by Anbima – composed of pre-determined Treasury securities, with additional control so that the duration of the portfolio is close to three years. The minimum investment starts at R$100.00, with a total interest rate of 0.25%. The reinvestment of the coupon is automatic, and since it is a fixed income, it is not necessary to issue DARF in the negotiations.
For both products, there is no IOF charge or ‘come-cotas’ (early payment of income tax). In addition, taxation is set at 15% of income tax on capital gains for any period. Although this rate is already standard for variable income, it is a big difference for fixed income ETFs compared to other types of products in the market in the same segment.
“We always pay attention to market trends and opportunities to develop and offer our clients strategic ETFs designed to diversify and strengthen their investment portfolios, meeting the demands of a constantly evolving scenario,” explains Renato Eid, Superintendent of Indexed Strategies and Responsible Investment at Itaú Asset. “The diversity of products, classes and types of assets is an indispensable advantage for investors seeking to maximize their returns and protect their portfolios from the natural volatility of market cycles. It is therefore particularly significant that we are launching two different products at the same time, which complement each other and offer new strategic opportunities,” he concludes.