RIO DE JANEIRO, BRAZIL - In December last year, thousands of Brazilian investors made their first overseas investments. However, the purpose was not to diversify, but rather to take part in the initial offer of XP Investments shares, which decided to go public outside Brazil, on the Nasdaq American Stock Exchange.
The brokerage firm Avenue Securities, established to ease the direct investment of Brazilians in the American Stock Exchange, recorded the opening of 11,000 accounts . . .