Australian firm Macquarie Investment Management is the latest asset manager to target the Andean pension funds following its deal with third-party Chilean distributor Picton.
In an announcement from Picton, the Santiago-based firm entered a distribution agreement with Macquarie in May to promote and distribute its Asian Ucits to pension funds in Chile, Peru and Colombia.
Picton will focus on funds managed by the Asian Listed Equities team, led by Sam Le Cornu and John Bugg, such as the $774.7 million Macquarie Asia New Stars. Le Cornu and Bugg also manage the fund $324.4 million Macquarie Asian All Stars fund.
The Asian equities mutual fund sector is the most popular equity classification across the Chilean pension funds, with the six AFPS allocating $13.5 billion as of the end of May.
On behalf of Macquarie, Le Cornu said: ‘We are confident our investment approach and solutions are well suited to the dynamic and sophisticated Andean pension market and we look forward to partnering with Picton and forming new relationships in the region.’
Picton's head of institutional fund distribution, Matías Eguiguren, added: ‘We believe our distribution relationship with Macquarie brings outstanding Asia Pacific products to the institutional clients in the region.’
Prior to founding Picton in 2010, the firm’s partners worked at a variety of Chilean firms such as Celfin Capital, which was taken over by BTG Pactual, and LarrainVial. In addition to being a third-party distributor, Picton also has a multi-family office business.