Nubank, XP to Join Key Brazil Index in Boon for US-Listed Shares.
(Bloomberg) -- A handful of Brazilian companies listed on US exchanges will join a key MSCI Inc. index, in a move that’s expected to spur passive inflows worth billions of dollars.
Nu Holdings Ltd., the Brazilian digital bank that counts Berkshire Hathaway Inc. and Sequoia Capital among its backers, payments firms StoneCo Ltd and PagSeguro Digital Ltd, online broker XP Inc. and digital lender Inter & Co. will be added to the MSCI Brazil Index.
Locally-traded shares of planemaker Embraer SA are also set to join the Brazil gauge, while Eneva SA and Lojas Renner SA will be removed, the index provider said Monday afternoon. Changes are expected to become effective on Sept. 2.
The decision to include foreign listings was seen as a “game changer” for Brazil equity markets, with strategists from Morgan Stanley saying earlier this year the decision could trigger almost $5 billion of inflows to those names.