New rules impose a 24-month ban on private markets, cap equities at 60%, and set a 50–80% international allocation range.
ETF listings approved by the CCR reach 875 products
Asset managers are expanding their ETF footprint in anticipation of asset allocation shifts driven by Chile’s pension reform, positioning themselves for the transition to a generational fund structure.
CMF consolidates AGF regulations, raising compliance and operational demands
Nearly 80 separate regulations will now be consolidated into a single regulatory framework, incorporating enhanced disclosure requirements and international best practices.
Former AFP Capital executive leads new AFP initiative
This would be the fourth initiative currently under evaluation or in the planning stages by their respective sponsors.
CCR Monthly Approval Report – January 2026
Sponsors gaining approval were Amundi, Azimut, Blue Owl Capital, Echiquier, Eurazeo, Invesco, iShares, Leonard Green and M&G.
SP sets limits on indirect fees
In general terms, these management fees may not be charged when the investment vehicles offered have more than 10% of their assets invested in instruments that AFPs could invest in directly with relative ease.
Early 2026 brings leadership changes across Chile’s pension system
These include Paulina Yazigi’s planned departure from the AAFP amid speculation about a potential government role, as well as key executive transitions at AFP Habitat.
Investment advisors now influence 5% of Chile’s financial wealth
Registered advisors oversee nearly USD 30 billion in assets under advisory as regulation and demand accelerate the growth of Chile’s advisory market
CCR Monthly Approval Report – December 2025
Bradesco, HSBC, Invesco, VanEck, Wisdomtree, Lone Star Funds and TPG Angelo Gordon were the fund sponsors gaining approval for new product.
Chile clarifies the rules for the creation of new AFPs
New regulations from the Superintendency of Pensions define capital, governance, and outsourcing requirements.





