A fund selection analyst at Chilean pension fund AFP Capital has left after only about six months with the firm.
Joaquín Huerta, who had joined Capital in the second quarter of last year, left the pension fund at the end of 2017. A person familiar with the situation said Huerta left for personal reasons, and that it wasn't clear if he had joined another firm.
He was part of the three-man team, led by Nicolás Glisser and including Rodrigo Erices, in charge of selecting international equity mutual funds. The AFP is in the process of finding a replacement for Huerta, the person familiar with the situation said.
Capital, Chile’s fourth-largest pension fund, ran $38.8 billion as of November 30, according to the latest figures published by the local market regulator.
The AFP had put $15.4 billion of its assets in international products as of August 31, the latest breakdown of pension fund investments posted by the regulator showed. A total of $11 billion of that total international exposure had been allocated to foreign mutual funds, according to the data.
Other changes in the pension fund's investment lineup include the hire of AFP Cuprum's Rodrigo Manzur, who joined Capital in July 2017 as head of alternatives.
Separately, Capital faced backlash last year after a leaked video showed employees partying on a luxury yacht in Mexico over the summer. The incident occurred amid ongoing tension between the AFPs and savers, who have said the firms aren't producing adequate pensions.