PagBank passes fund distribution rebates to clients as cashback

PagBank, a Brazilian digital bank, will pass on fund distribution remuneration (rebates) to clients as cashback across 62 funds, potentially adding up to 1% annual return. This is a competitive move to attract investors in Brazil's retail fund market, likely pressuring other platforms to follow. The initiative is confirmed by the source, but the exact impact on fund flows and margins is uncertain.