By Brazil Stock Guide — BTG Pactual (BPAC11 BZ) launched AMAB11, an exchange-traded fund focused on assets linked to Brazil’s Legal Amazon, as part of an initiative backed by the Inter-American Development Bank Group, seeking to broaden investor access to financing tied to the region.
The fund, which will trade on Brazil’s B3 under the ticker AMAB11, can be accessed with an investment of around R$ 10 and will hold three main groups of assets: Amazon Bonds, debentures issued by companies with a significant presence in the Legal Amazon and Brazilian federal government bonds.
AMAB11 is the first ETF to receive the Amazonia for All label, an initiative linked to the IDB Group’s Amazonia Forever regional program. The label recognizes funds whose portfolios follow eligibility, transparency and reporting guidelines developed for financial instruments linked to the Amazon region.
The portfolio currently has access to debentures from around 20 issuers and two Amazon Bonds, according to BTG. New Amazon Bonds that meet the initiative’s criteria are expected to be incorporated into the ETF’s benchmark index as they are issued.
“AMAB11 reflects BTG Asset’s role in leading and innovating across Latin America’s investment industry,” Rubens Henriques, CEO of BTG Pactual Asset Management, said. “By aligning with the IDB Group’s sustainability guidelines for investments in the Amazon, the ETF combines return potential and impact in an accessible, transparent and tax-efficient structure.”
“Now, any investor, with just R$ 10, will be able to contribute directly and own a share of development projects in the Amazon,” IDB President Ilan Goldfajn said in a statement.
Goldfajn said the initiative could also encourage companies, financial institutions and governments to issue more financial instruments aimed at supporting development in the region.
The ETF will be rebalanced quarterly, charge a 0.40% annual management fee and offer D+1 liquidity. According to BTG, the vehicle will not be subject to Brazil’s IOF financial transactions tax or the semiannual “come-cotas” tax mechanism, while capital gains will be taxed at 15%.
The inclusion of Brazilian government bonds is intended to provide liquidity and diversification while the Amazon Bond market remains relatively small. The fund may also invest in debt issued by companies operating in sectors considered strategic to the Legal Amazon, including energy, sanitation, telecommunications, healthcare and education.
The launch comes as Brazil’s ETF industry continues to expand. The market has surpassed R$ 120 billion in assets under management and is approaching 1 million investors, according to BTG.
BTG Pactual Asset Management’s ETF platform has grown from about R$ 1 billion in assets under management at the end of 2024 to more than R$ 20 billion as of June 2026, with more than 100,000 investors.
The IDB Group does not participate in the management of AMAB11, make investment decisions or guarantee the fund’s performance. BTG Pactual Asset Management, the bank’s asset-management arm, oversees more than R$ 690 billion in assets.
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