The Investo Private Equity & Venture Capital ETF (PEVC11) is a Brazilian exchange-traded fund designed to track the performance of the BlueStar Top 10 US Listed Alternative Asset Managers Index. Managed by Investo Gestão de Recursos Ltda, the ETF trades on the B3 and provides Brazilian investors with indirect exposure to leading global alternative asset managers through a single exchange-traded product.

Classified as an international equity ETF, PEVC11 follows a passive management strategy. The fund invests primarily in companies listed in the United States that specialize in alternative investments, including private equity, private credit, real estate, infrastructure, and other alternative asset classes. Its objective is to replicate the performance of its benchmark index as closely as possible.

The underlying index tracks a concentrated portfolio of publicly traded alternative asset managers selected according to predefined eligibility criteria. Constituents are weighted primarily by market capitalization, subject to diversification limits designed to reduce concentration and maintain adherence to the index methodology.

Composition / Exposure Profile

PEVC11 provides exposure primarily to:

• Publicly traded alternative asset managers.

• Private equity firms.

• Private credit and direct lending businesses.

• Real estate and infrastructure investment managers.

• U.S.-listed financial companies.

• Global alternative investment strategies.

The ETF seeks to capture the performance of some of the world's largest alternative asset managers, including firms such as Apollo Global Management, Blackstone, KKR, and Carlyle. These companies generate revenue from investment management fees, carried interest, fundraising activity, and the performance of alternative investment vehicles across multiple asset classes.

As a result, the ETF's performance is influenced not only by equity-market conditions but also by fundraising trends, private-market valuations, merger and acquisition activity, interest-rate expectations, credit-market conditions, and the overall demand for alternative investments.

Structure and Costs

PEVC11 shares trade on the secondary market on the B3 during regular trading hours. Share creation and redemption are carried out by authorized participants, helping to keep the ETF's market price aligned with its net asset value (NAV).

The fund charges a management fee of 0.30% per year, in addition to operational expenses associated with maintaining the portfolio.

PEVC11 does not charge a performance fee and does not make recurring income distributions. Any dividends or other proceeds received from portfolio holdings are automatically reinvested into the fund. The ETF has an indefinite term.

History and Evolution of the ETF

The Investo Private Equity & Venture Capital ETF was launched in 2022 with the objective of providing Brazilian investors with convenient access to the global alternative asset management industry through the Brazilian stock exchange.

Since its inception, PEVC11 has become part of the growing range of international ETFs available on the B3, reflecting increasing investor interest in private markets and alternative investment strategies. 

The fund's performance is closely linked to the financial results of publicly traded alternative asset managers and is influenced by factors such as global macroeconomic conditions, interest-rate cycles, capital-market activity, fundraising trends, and the long-term growth of the alternative investments industry.

Additional Information

Investo Private Equity & Venture Capital ETF (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $24.82 million.

Over the past 12 months, Investo Private Equity & Venture Capital ETF recorded a return of -27.72%, with its price trading between $139.44 and $220.24 during the same period.

The ETF is traded under the ticker PEVC11.