The largest fixed income fund in Brazil, with around 1.3 million shareholders, the “Nu Reserva Imediata”, indicated in Nubank’s option for “Emergency Reserve” and presented as “low risk and high liquidity”, had negative profitability in the last 30 days due to the drop of more than 57% in Americanas shares in the last month.
Although “Nu Reserva Imediata” is one of the options, the bank reinforced, in a statement, that the standard suggestion of the application for customers who created a “Caixinha” (fund) as an “Emergency Reserve” is to invest in RDBs (Bank Deposit Receipts) from Nubank, also with high liquidity and investment grade.
Before the R$20 billion loss in Americanas‘ balance sheet that knocked down the company’s shares and triggered the resignation of the retailer’s CEO and CFO, the fund that has more than 1.2 million shareholders, equity of around R$2.6 billion and a minimum investment of R$1 delivered a return of approximately 109% of the CDI.
According to data from the Brazilian Securities and Exchange Commission (CVM), around 1% of the fund’s equity was allocated in Americanas debentures.
On Friday, after the market closed, it became public that the Justice of Rio de Janeiro accepted the company’s request for judicial precautionary relief, a process that prevents the attachment or blocking of its assets by creditors until a possible judicial recovery lawsuit is opened by the company.
Americanas’ creditor banks decided to go to court earlier this week to appeal the decision that suspends the company’s debt collection for the next 30 days.
With information from Gazeta Brasil