BNP Paribas Securities Services has been appointed fund administrator for the first fixed income ETF domiciled in Brazil.
With the launch of the Mirae Asset Fixed Income Fund (“MIRAE FIXA”) on the Brazilian Stock Exchange B3 on September 10, 2018, BNP Paribas now serves as the fund administrator and custodian for the fund’s approximately BRL 60 million in assets. BNP Paribas was also instrumental in structuring this new product in the Brazilian market.
BNP Paribas is already a leader in ETF servicing in Brazil, currently providing fund administration and custodial services for over BRL 4.6 billion in equity ETF assets, or approximately 64%* of the equity ETF market in Brazil.
“With this new launch, we are consolidating our leadership role in the Brazilian ETF market, both in terms of volumes and sophistication in the product range we can serve,” said Andrea Cattaneo, Head of Brazil for BNP Paribas Securities Services. “We are proud to have the opportunity to help develop the ETF market in Brazil, which ultimately benefits investors with cost-effective and more transparent investment options.”