THE billionaire hole in Americanas SA. released last week caused the company’s shares to fall by almost 80% and this scenario affected customers of the Nubank who have investments in a fixed income fund of the financial institution.
Some digital bank wallets showed negative returns in recent days, because they have investments in private credit and part of the resources allocated in debentures (debt securities) of the American. Therefore, they were affected.
Nubank’s so-called “Little Boxes”an option offered by the bank so that the customer can save money according to their objectives, were the service affected. The “Nu Reserva Immediata” fund, for example, saw its profitability drop and remain in the red.
According to the latest data submitted to the Securities and Exchange Commission (CVM), the portfolio of the investment fund “Nu Reserva Imediata” had about 1% of its equity allocated to two debentures of Lojas Americanas.
Therefore, the portfolio, which previously delivered earnings equivalent to 109% of the CDI (Interbank Deposit Certificate), presented an average return of 37% of the CDI in the last 30 daysaccording to information from the bank’s application taken yesterday, on Sunday (15).
The fund had a minimum investment of BRL 1 and was presented by the institution as being “low risk and high liquidity”, and indicated for “investors who do not want to take many risks and with an expectation of return better than that of savings”.
Negative profitability led customers to complain on social networks. In a note, the bank stated that, despite “Nu Reserva Immediata” being one of the options, the standard suggestion of the application is to create the “Emergency Reservation” box.
The “Emergency Reserve” option would be out of risk, according to the digital bankas your investment is in RDBs (Bank Deposit Receipts) from Nubank, which also have high liquidity and a low degree of investment risk.
Investment funds reinvest the amounts invested in other investment categories. In Nu Reserva Immediata and Nu Reserva Planejada funds, fixed income assets may vary in value according to price marking, which varies according to news and market events. +
— Nubank (@nubank) January 13, 2023
“About 10% of the existing Caixas have funds in Nu Reserva Immediata. The impact on profitability in this specific fund, caused by the atypical market event, tends to be mitigated over time by the fund’s management strategy”, informed Nubank in note to g1 portal.
It is worth noting that Nubank’s portfolios were not the only ones negatively affected in the last week. Several funds and investors who had money in Americanas’ assets also felt the impact and began to reallocate these resources.
The executive Sergio Rial left the direction of Americanas SA last Wednesday (11), after having spent only nine days in the position. The departure happened after he discovered an accounting “inconsistency” of R$ 20 billion in the company’s balance sheet.
The announcement of “inconsistencies” in the balance sheet led to a fall of more than 77% of the company’s shares in a single day, the biggest on the Europeian Stock Exchange since 2008. The company lost more than R$ 8 billion in market value after the revelation of the billionaire breakout.
Last Friday (13), Judge Paulo Stefan, of the 4th Business Court of the Judicial District of Rio de Janeiro, accepted Americanas’ request for Precautionary Urgency Protection. The court decision pointed out that the company’s debt could reach R$ 40 billion.
And you, were you one of those affected by this drop? Tell us in the comments down below!
