On April 19th, 2022, abrdn, the leading global asset manager, announced the launch of two Brazilian Depository Receipts (BDRs) referencing existing North American exchange traded funds (ETFs) focused on precious metals.
The new BDR funds, initially offered to qualified investors and listed on B3, the Brazilian stock exchange located in Sao Paulo, will provide exposure to physical gold and silver, respectively.
The available BDRs will offer Brazilians easily accessible, liquid and cost-efficient exposure to both precious metals at a time when many investors are seeking to bulwark their portfolios with increased diversification and protection. Benefiting from investment, risk and operational knowledge drawn from abrdn’s existing stable of metals funds, the new instruments join a growing array of BDRs now listed on B3, numbering more than 100 overall.
“These new BDRs will immediately enhance the landscape of publicly-listed funds for investors, who have grown in number and sophistication but remain limited in their pathways to exposure to gold and silver,” said Menno de Vreeze, Head of Business Development, International Wealth Management at abrdn. “Today’s macroeconomic conditions demonstrate the imperative for fast, trusted access to these metals perhaps more than ever before, and we are extremely excited to bring these tools to a Brazilian market that is dynamic yet still broadly untapped. We were proud to work with B3 and our local partners on this timely and long-awaited launch, and will continue our work together to offer further exposure of this kind in Brazil in the future.”
“This is a big step in the Brazilian market, bringing an opportunity from of our shelf of passive vehicles in partnership with B3 via their BDR-of-ETF program to provide easy access to two of our flagship metals products. We believe this will also provide excellent foundation for future to provide exposure to our separate commodities suite, as well,” added Daniel Xavier, abrdn Business Development in Sao Paulo.
“B3 continues to support market participants to bring crucial and innovative BDRs to Latin America’s largest market, with providers today including abrdn and many of the world’s largest asset managers,” said Rogerio Santana, Director of Client Relations at B3. “Today’s new BDR offerings provide more confirmation of the Brazil’s market potential and steady maturity, meeting our investors’ requirement for local funds to help them properly diversify their portfolios and navigate volatility. We are excited to support these new BDRs going forward and congratulate abrdn on their first launch on our platform.”
Por Funds Society, Madrid