The firm has raised roughly USD 150 million in the short time the funds are active in Brazil,” said Santander's Rudolf Gschliffner. Lower interest rates and the search for diversification have made international investments relevant among ...

ETFs from global firms have flooded the market, providing investors with diversification options as the country heads toward July elections. Vanguard, Principal, Franklin Templeton, First Trust, Van Eck and Amundi have all listed funds in recently.

The deal was made possible by legislation that allows Argentine clients to invest directly in financial instruments domiciled outside the country, provided that they have a local agent as a link to the operation abroad.

Provida, for many years the leader in overall AUM in the Chilean AFP industry, has reduced its fees and made a key hiring on the investment side to shore up its sagging market share.

Several foreign managers, including Vanguard, First Trust, Amundi and BlackRock are promoting their Smart Beta ETFs in the Chilean market, but uptake has been slow among AFPs.