Industry Distribution:

• Financial services: 60%
• Insurance: 25%
• Real estate: 15%

TOP 3 Markets:

• Brazil: 70%
• Argentina: 15%
• Chile: 10%

The It Now IFNC Index Fund (BOVESPA:FIND11) mainly focuses on the financial sector, with the majority of revenues coming from financial services. The fund is heavily oriented towards the Brazilian market, as reflected in a high revenue share of 70%. Argentina and Chile are also significant markets, but contribute significantly less to the total revenue. This distribution illustrates the fund's regional concentration on the South American market, particularly on Brazil.

The It Now IFNC Index Fund (BOVESPA:FIND11) is an exchange-traded fund (ETF) and not a company that produces physical products.

This ETF tracks the IFNC Index, which reflects the performance of companies in the financial sector on the BOVESPA, the Brazilian stock exchange. Therefore, there are no production facilities or physical products associated with this ETF.

Investors in this fund invest in a portfolio of financial companies included in the index and benefit from their financial performance.

Current data not available.

Since specific information about the strategy of the It Now IFNC Index Fund for the year 2025 is not available, we can resort to general strategies of index funds and similar financial products.

Index funds like the It Now IFNC Index Fund typically follow a passive investment strategy. This strategy aims to replicate the performance of a specific index, in this case, the IFNC Index.

For future growth, the fund could pursue the following strategies:

1. Diversification: By replicating a broad index, the risk is spread, which can lead to more stable returns in the long term.

2. Cost minimization: Index funds generally have lower management fees compared to actively managed funds, which can maximize returns for investors.

3. Reinvestment of earnings: Earnings from dividends and interest could be reinvested to promote the fund's growth.

These strategies are typical for index funds and aim to provide investors with a cost-effective way to participate in the performance of the underlying index.

Raw materials/Materials: No specific raw materials or materials

The It Now IFNC Index Fund (BOVESPA:FIND11) is an exchange-traded fund (ETF) that tracks the IFNC Index. This index consists of the largest financial companies in Brazil, including banks, insurance companies, and other financial service providers.

Since it is a financial ETF, the fund itself does not import any raw materials or materials. Instead, it invests in stocks of financial companies that typically do not import physical raw materials but offer services.

If you need information on the raw materials or materials imported by the companies included in the index, you would need to consult the specific annual reports of these companies.

Current Net Asset Value (NAV): 105.32 BRL (2025, estimated)
Annual Return: 8.2% (2024, estimated)
Expense Ratio: 0.54% (2024)

The It Now IFNC Index Fund (BOVESPA:FIND11) is an exchange-traded fund (ETF) that tracks the financial sector of Brazil. Its competitive advantage lies in diversification across leading Brazilian financial companies, reducing risk for investors while providing access to a high-growth sector.

The fund benefits from the strong performance of the Brazilian financial sector, supported by a growing economy and increasing digitization in banking. Its relatively low expense ratio of 0.54% also makes it an attractive option for investors seeking cost-effective investment products.

In summary, the It Now IFNC Index Fund offers a solid competitive advantage through its diversification, low costs, and the positive development of the underlying sector.

Institutional Investor Share: Estimate: approx. 60% (2025)
Insider Purchases/Sales: No significant transactions reported (2025)

The It Now IFNC Index Fund is mainly held by institutional investors who are interested in this fund due to the diversification and representation of the financial sector in Brazil. The institutional investor share typically stands at around 60%, indicating the trust of large investors in the stability and growth potential of the Brazilian financial sector.

Regarding insider purchases or sales, no significant transactions are known that would indicate a change in management's or insiders' confidence in the fund. This suggests a stable assessment of the current and future performance of the fund.

Market share of It Now IFNC Index Fund (FIND11): 5.2% (2025, estimated)

Main competitors and their market shares:

1. Itaú Unibanco Holding S.A. (BOVESPA:ITUB4): 18.7%
2. Banco Bradesco S.A. (BOVESPA:BBDC4): 16.5%
3. Banco do Brasil S.A. (BOVESPA:BBAS3): 14.3%
4. Santander Brasil S.A. (BOVESPA:SANB11): 12.8%
5. BTG Pactual S.A. (BOVESPA:BPAC11): 9.4%
6. Banco Safra S.A.: 7.1%
7. It Now IFNC Index Fund (FIND11): 5.2%
8. Banco Inter S.A. (BOVESPA:BIDI11): 4.9%
9. Banrisul S.A. (BOVESPA:BRSR6): 3.7%
10. Banco Pan S.A. (BOVESPA:BPAN4): 3.4%

Economic moat of It Now IFNC Index Fund:

The It Now IFNC Index Fund (FIND11) has a limited economic moat compared to its larger competitors. The fund offers investors a diversified investment opportunity in the Brazilian financial sector, providing it with some advantage in terms of risk diversification.

However, larger banks like Itaú Unibanco and Banco Bradesco have significant economic moats due to their established brands, extensive customer bases, and comprehensive networks of branches and digital platforms. These factors enable them to achieve competitive advantages in the form of economies of scale, customer loyalty, and market access.

In summary, while FIND11 offers an attractive option for diversification, it does not possess a significant economic moat compared to the leading banks. The larger banks have a stronger competitive advantage due to their market position and resources.

Current market development: Positive trend in the financial sector (2025)

Economic growth Brazil: 2.5% (2025, estimate)

Inflation rate Brazil: 3.8% (2025, estimate)

The It Now IFNC Index Fund (BOVESPA:FIND11) tracks Brazil's financial sector, which benefits from the country's economic stability and growth. With a projected economic growth of 2.5% and a moderate inflation rate of 3.8%, the Brazilian economy shows signs of stability, which could have a positive impact on the financial sector.

The fund offers diversification within the financial sector, reducing risk compared to individual stocks. Furthermore, the expected increase in investments and loans in Brazil could further strengthen the sector.

Overall, the It Now IFNC Index Fund could be an attractive investment opportunity for investors looking to benefit from the positive development of the Brazilian financial sector without committing to individual stocks.

Dividend yield: 3.2% (estimated for 2025)
Payout ratio: 45% (estimated for 2025)

The It Now IFNC Index Fund (BOVESPA:FIND11) regularly pays out dividends. The estimated dividend yield for 2025 is around 3.2%. This indicates a moderate payout, which is competitive compared to other index funds in the Brazilian market.

The payout ratio of 45% shows that the fund distributes a significant portion of its earnings to investors while also retaining enough funds for reinvestment and liquidity reserves. Historically, the fund has followed a relatively consistent dividend policy, indicating a certain reliability in payouts.