The firm believes there are no long-term fundamentals in favor of developed markets and that a change in asset allocation could take place by mid-year.
Fitch assigns a BBB+ rating to Sura Asset Management
April 2, 2014 by
SURA has a leading franchise in the mandatory pension fund business. With presence in six markets, a 23% regional market share, a customer base of over 16 million people and USD 113 billion of assets under management is the only mandatory pension fund manager with presence in the region’s top four markets (Mexico, Chile, Colombia and Peru).
Santander said to scoop up BNP’s Miami-based wealth unit
April 2, 2014 by
In a move sure to further boltster its standing as a major player in the Latin American wealth-management segment, Banco Santander is said to have purchased the USD 3 billion Miami private-banking portfolio of BNP Paribas.
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).
Brazilian-based Mongeral Aegon announces fund of funds allocating to Transamerica
March 28, 2014 by
The product, denominated Mongeral Aegon Multimercado Investimento no Exterior, will roll its assets into shares of the Aegon Global Fund, a mutual fund managed by Transamerica Asset Management.
Julius Baer acquires majority stake in leading independent Brazilian wealth manager GPS
March 28, 2014 by
Gustavo Raitzin (photo), currently head of Latin America and Israel for Julius Baer, was named chairman-designee of GPS. The wealth manager nearly doubled its assets under management to USD 6.6 billion in three years.
Leonidas Vial Echeverria resigns as board chairman of LarrainVial
March 28, 2014 by
In a related move, Larrain's local fund management unit, LarrainVial Administradora General de Fondos SA, said it will also replace two LarrainVial board members with independent directors.
Larrain blames Latam-equity-fund redemptions on market pullback
March 28, 2014 by
The market in general has been looking to boost its exposure to developed countries and Europe, a more likely explanation for the wave of redemptions in the Latam product.
LV Asset Management studying new registrations in Luxembourg
March 24, 2014 by
Along with other Chilean asset managers, Larrain doesn't see the point in doing locally-domiciled fund launches when the end client is a regional institutional investor. Registering in Luxembourg seems to make more sense for the additional doors it opens for smaller managers.
