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The BTG Pactual Teva AUVP ITBR Liquidez Fundo de Índice (AUPO11) is a Brazilian exchange-traded fund designed to provide exposure to short-term fixed-income instruments focused on liquidity management within the Brazilian market. The ETF is managed by BTG Pactual-related entities and trades under the ticker AUPO11 on the B3.
Classified as a fixed-income ETF, the fund seeks to reflect the performance of instruments associated with liquidity preservation and cash management in Brazil. The ETF follows a passive management strategy, maintaining a portfolio aligned with the composition and methodology of its benchmark index.
Diversification and sector exposure
AUPO11 provides exposure primarily associated with:
• Brazilian federal government bonds.
• Tesouro Selic (LFTs).
• Inflation-linked government bonds.
• Short-term fixed-income instruments.
• Repurchase agreements.
• Brazilian interest-rate markets.
• Liquidity-management strategies.
• Local fixed-income exposure.
The ETF’s performance is particularly sensitive to Brazilian interest-rate conditions, monetary policy decisions by the Central Bank of Brazil, and liquidity conditions within local fixed-income markets.
Changes in inflation expectations, movements in the Selic rate, and shifts in Brazil’s fiscal environment may directly affect the fund’s behavior. The ETF may also reflect developments associated with domestic monetary tightening cycles and broader conditions within Brazil’s sovereign debt market.
Structure and costs
AUPO11 shares trade on the secondary market on the B3 during regular trading hours. Share creation and redemption occur through authorized participants, a mechanism intended to help align the ETF’s market price with its net asset value (NAV).
The fund charges a management fee as outlined in its regulations and does not indicate the application of a performance fee. AUPO11 does not provide recurring income distributions, as returns are incorporated into the share price.
History and evolution of the ETF
The BTG Pactual Teva AUVP ITBR Liquidez Fundo de Índice was launched as part of the expansion of fixed-income ETFs within the Brazilian market, offering an alternative structure focused on liquidity management and local sovereign debt exposure.
Since inception, the fund has reflected movements associated with Brazilian interest-rate markets, including changes in monetary policy, inflation dynamics, and conditions within the domestic fixed-income environment.
In recent years, AUPO11 has reflected fluctuations in the Selic rate, developments in Brazil’s sovereign bond market, and changing investor demand for liquidity-focused fixed-income strategies within the local ETF industry.
Additional Information
BTG Pactual Teva AUVP ITBR Liquidez Fundo de Índice (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $420.60 Millions.
Over the past 12 months, BTG Pactual Teva AUVP ITBR Liquidez Fundo de Índice recorded a return of -, with its price trading between $100.33 and $106.74 during the same period.
The ETF is traded under the ticker AUPO11.
