With President Bachelet's vow to "modify the various forms of hidden fees...which take resources from participants’ accounts with no real justification," the AFPs now fear they may eventually have to pay third-party-fund management fees.
Chilean AFPs boosted US exposure in aftermath of surprise election outcome
January 10, 2017 by
Chilean AFPs, inspired by positive returns, bet heavily on US equity products, while at the same time unloading positions in emerging-market-bond funds on the heels of the surprise Trump victory in the US Presidential election.
CCR Monthly Approval Report – December 2016
January 10, 2017 by
Eight mutual funds were added in December to the list of approved instruments eligible to receive allocations from Chilean Pension Managers (AFPs). Of those, only one it is an equity product, while the others belong to the fixed income and money market asset class categories.
Guida returns to Chile to assist in Corpbanca-Itaú asset manager merger
December 20, 2016 by
"I returned to the country as CEO of Itaú Chile AGF to take over this business and contribute directly to the merger process" of Itaú and Corpbanca, Wagner Guida told Fund Pro Latin America.
Ameris alternatives fund raises USD 50 million from Chilean institutions
December 13, 2016 by
Ameris's distribution arm, led by Francisco Opazo, surprised with news that the biggest contributors to the global alternatives vehicle were seven local insurance companies.
Chilean AFPs showed renewed interest for US equities ahead of of November elections
December 10, 2016 by
AFP exposure to North American equity hit a three-month-high of USD 10.4 billion in October, as managers plowed USD 438 million into the segment. Over the last three months, the SPDR S&P 500 has accumulated USD 1.2 billion in new AFP investment.
Chilean AFPs suffering small-scale exodus of talent
December 5, 2016 by
Jorge Valencia left AFP Habitat to join Banco Santander as head of global markets. AFPs are finding it difficult to retain executives as salaries tend to pale vs. those offered in the local asset-management market.
CCR Monthly Approval Report – November 2016
December 2, 2016 by
Ashmore, Eastspring, AXA, BNY Mellon, and Stone Harbor Investment were among the fund sponsors gaining approval for new products.
Chilean AFPs boost exposure to Latin America and Japan in September
December 1, 2016 by
AFPs continued to withdraw from US equities, while plowing money into Latin America and Japan. High-yield bonds and emerging markets funds ended up on the losing end as well.
CCR Monthly Approval Report – October 2016
November 2, 2016 by
While iShares led with 14 ETFs registered in the month, Fidelity (three), Invesco, Neuberger Berman and UBS also won approval for funds of their own.
