If the US does away with charging a 30% withholding tax on certain distributions, US-domiciled funds would gain tax-equalization vis-à-vis Luxembourg and, hopefully, a fresh look from Chilean pension managers.
Pimco and GAM first to register Irish funds as CCR lifts suspension
May 14, 2014 by
The rating agency took Moody's upgrade into consideration when accepting this domicile again. Irish funds had been banned for purchase by Chilean AFPs since September 2011.
Wagner Guida departs Chile to assume institutional product area at Itaú Brazil
May 9, 2014 by
After five years as CEO at Itaú AGF Chile, the executive returns to Brazil to control the area of products for the institutional investors, corporates and distributors.
CCR Monthly Approval Report – April 2014
May 5, 2014 by
Of the 20 products approved, 16 are domiciled in Ireland, after nearly three-year hiatus: funds domiciled Ireland were delisted by the CCR in September 2011, after the country's credit-rating fell below investment grade.
Loan funds make initial appearance in Chilean pension portfolios
April 29, 2014 by
Senior loan funds have a similar risk structure to high yield, but with shorter duration. The big players in these instruments include firms such as PIMCO, Neuberger Berman, Ares, and Oak Tree. Chilean AFPs have made allocations to funds sponsored by ING, Invesco and PIMCO.
As assets swell, global managers may reconsider Chilean distribution strategies
April 25, 2014 by
After reaching a certain level of sales, some foreign firms have recognized the need to formalize their local presence. But many still remain faithful to multi-brand distribution. This article takes a fresh look at the pros and cons of the schemes currently in place in Chile.
Tax reform will impact the asset management industry
April 25, 2014 by
Some items in the tax reform proposal presented April 1 by President Michelle Bachelet could impact the competitiveness or attractiveneness of asset management vehicles vis-a-vis other savings vehicles.
Chilean pension funds reluctant to add to cross-border investments in March
April 21, 2014 by
While equity products saw redemptions of USD 670 million, convertible-bond mutual funds were favored with new investments of USD 500 million. BNP Paribas, Aviva Investors and DWS were among the managers that benefited most.
BTG Pactual hires Jaime Maluk for new annuity unit
April 1, 2014 by
Jaime Maluk (photo), a well-known executive in the Chilean financial sector and former CEO of the local brokerage firms Euroamérica and Cruz del Sur, will lead BTG into the Chilean insurance market.
CCR Monthly Approval Report – March 2014
March 31, 2014 by
A rundown of the financial instruments approved, rejected and affirmed by the Comisión Clasificadora de Riesgo (CCR). Month of March 2014.
Seven mutual funds and two ETFs were added in March to the list of approved instruments to receive investments from Chilean Pension Managers (AFPs). Fidelity led with two fixed income funds plus one thematic equity fund listed, followed by Credit Suisse (one European equity fund and one Convertibles Bond fund) and AXA (one European equity fund).
