Group 1: New Product Launch - Nu Asset Management, Nubank's investment manager, is launching the Nu CDI Tesouro Selic B3 (NCDI11), a new fixed income ETF that allows investors to access government bonds linked to the Selic rate [1] - The NCDI11 is the first ETF indexed to the B3 Selic Treasury Index, which represents the most traded Treasury bonds based on liquidity criteria and quarterly rebalancing [2] - The ETF will have an administration fee of 0.15% per year and will be available for trading on B3 starting October 17, enhancing Nu Asset's portfolio of investment products [2] Group 2: Company Overview - Nu Asset currently manages R$ 6.4 billion across 24 investment funds and serves 1.4 million investors, utilizing data science and technology to create investment solutions [2] - Recent milestones include the launch of dividend-distributing ETFs and smart beta products linked to the Bovespa index [3] Group 3: Customer Base and Market Position - Nubank's subsidiary Nu México has surpassed 13 million customers, reaching approximately 14% of the adult population and 23% of all banked individuals in Mexico [3][4] - The customer base is diverse, with over 60% belonging to low and lower-middle-income households, indicating that Nu's growth is driven by broad social groups [4][5] - More than half of Nu's customers have maintained a relationship with the company for over two years, reflecting sustained digital adoption [5]

Core Viewpoint - State Street Investment Management is expanding its ETF business by targeting advisors and retail investors, highlighted by the launch of a new low-cost ultra-short bond ETF, the SPDR Portfolio Ultra-Short T-Bill ETF (SPTU) [1][2] Group 1: ETF Launch and Features - The SPDR Portfolio Ultra-Short T-Bill ETF (SPTU) began trading, providing exposure to U.S. Treasury bills with maturities between one and twelve months [1] - SPTU is priced at five basis points, making it one of the lowest-cost ETFs in the Treasury bond category, cheaper than the SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) which has a fee of 0.14% [1] Group 2: Market Position and Performance - State Street has been a leader in the short-term fixed income ETF market, with the BIL managing $42 billion and adding over $5 billion in net inflows in 2025 [1] - The SPDR Portfolio ETF suite has accumulated over $323 billion in assets since its inception in 2017, with significant inflows in 2025, including $24 billion for the SPDR Portfolio S&P 500 (SPLG) [3] Group 3: Investor Appeal and Trends - The appeal of low-cost ETFs is underscored by the growing interest in fixed income ETFs, which have attracted over $300 billion in new money in 2025 as investors seek bond market access [4] - The launch of SPTU is positioned as a flexible funding solution for institutional investors, aiding in income generation and risk mitigation [2]