- The portfolios will be available in the coming days for a limited group of customers and will be extended to the entire base in the coming months;
- Customers will be directed to the fund with the best compatibility with their profiles;
- The launch comes after the company had a boost of 50% of the customer base in the last 12 months.
Brazilian Nubank announced on Tuesday its first investment funds, as the neobank expands its product offering in order to monetize its base of more than 35 million customers in Brazil.
Initially, there will be three funds in the multimarket category, each consisting of quotas from other market funds that include fixed-income assets, shares in Brazil and abroad, gold and dollar indexes, according to the different risk profiles.
The portfolios, with applications starting at BRL 1, will be available in the coming days for a limited group of customers and will be extended to the entire base in the coming months.
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Management fees vary from 0.3% to 0.5% per year according to the portfolio, in addition to those charged by the administrators of the portfolios that make up these funds.
According to the Nubank co-founder Cristina Junqueira, one of the focuses is to serve audiences with funds invested in savings accounts, an application that still has around BRL 1 trillion, despite currently offering lower profitability than inflation.
At first, customers will be directed to the fund with the best compatibility with their profiles, defined from a questionnaire answered in the bank app. Nubank did not disclose financial funding estimates with the funds.
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The launch comes after the company had a boost of 50% of the customer base in the last 12 months, with the social isolation imposed by the COVID-19 pandemic leading millions of people in Brazil to seek online services.
Also, Nubank is preparing to offer more complex investment products, after having announced in September the purchase of the Easynvest platform, an operation awaiting approval by the Central Bank.
Translated by LABS.