Redeemable funds in Chile have gathered USD 5.2 billion in AUM

Luis Alberto Letelier, president of the ACAFI, says redeemable funds - which increasingly invest in funds of global managers - have opened a great tax-efficient opportunity for affluent Chilean investors.

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ACAFI welcomes new alternatives regulations, but still sees pending issues

ACAFI chief Luis Alberto Letelier said attractive products and the hard work of local managers - not capital repatriation - have been the major driver for growth of the closed-end fund business in Chile.

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Conversion to public status boosts visibility of Chilean PE funds

The number of closed-end investment funds in Chile grew more than 30% in the first quarter of 2015 due mainly to the conversion of private funds into public funds, according to the president of the Chilean Investment Funds Association, Luis Alberto Letelier.

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Foreign investors in Chilean funds get favorable tax treatment

Thanks to the recently-enacted Unified Fund Law (LUF), foreigners investing in Chilean-domiciled funds will be subject to a maximum 10% tax ceiling, even if direct investment in underlying assets is subject to a higher tax rates, says Luis Alberto Letelier, a legal advisor to the Chilean Association of Investment Fund Managers (ACAFI).

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