Bank of America puts non-US wealth arm up for sale

The deal could bring in up to USD3 billion or more than 3% of assets under management.

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Industry looks for increased liquidity for closed-end investment funds

The new legislation should include authorization to repurchase up to 10% of their own shares annually, Enrique Ovalle, general secretary of Acafi, says.

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Sura to distribute 66 BlackRock funds to non-institutional clients

The partnership will strengthen its open architecture model for fund sales. The U.S. firm is also pinning its hopes on potential growth in the retail segment.

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Foreign banks step up presence in Chile

For this year, Goldman Sachs announces opening of offices while State Street is set to expand operations.

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Ecus Capital captures European investors for USD30 million fund

The manager is confident that the Single Fund Bill (Ley Única de Fondos), currently in on its way through Congress, will allow foreigners to benefit from a less costly tax system.

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Closed-end investment funds feel discriminated by the new rules

In the latest changes to the Pension Fund Investment System, the maximum percentage AFPs can invest in local funds was cut from 5% to 3%.

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