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BlackRock expands iShares offering for Chile AFPs

BlackRock expands iShares offering for Chile AFPs

BlackRock has further expanded its offering in Chile by adding 22 vehicles to the list of funds in which local pension funds can invest.

In its monthly report, Chile’s risk regulator, the Comisión Clasificadora de Riesgo (CCR), revealed it had approved a series of iShares funds from the US titan, including an index fund that invests in developed markets but excludes firms that make most of their money from tobacco. 

Overall, the new offering includes 13 equity funds from BlackRock’s Index Selection Fund range and nine bond vehicles from its Fixed Income Dublin Funds group.

European manager Edmond de Rothschild also listed new funds on the CCR list, as did Matthews Asia, Oddo BHF Asset Management, and Lyxor ETF. Here’s the full list: 

Fund name Manager
iShares Developed Real Estate Index Fund Alan Mason
iShares Developed World ex Tobacco Index Fund Kieran Doyle    
iShares Developed World Index Fund Kieran Doyle
iShares Edge EM Fundamental Weighted Index Fund Kieran Doyle
iShares Emerging Markets Index Fund Kieran Doyle
iShares EMU Index Fund Kieran Doyle
iShares Europe ex-UK Index Fund Kieran Doyle
iShares Europe Index Fund N/A
iShares Japan Index Fund Kieran Doyle
iShares North America Index Fund Kieran Doyle
iShares Pacific Index Fund Kieran Doyle
iShares UK Index Fund N/A
iShares US Index Fund N/A
iShares Euro Credit Bond Index Fund Darren Wills
iShares Euro Government Bond Index Fund Francis Rayner
iShares Euro Investment Grade Corporate Bond Index Fund N/A
iShares GiltTrak Index Fund N/A
iShares Global Inflation-Linked Bond Index Fund  Francis Rayner
iShares UK Credit Bond Index Fund Duncan Fergusson 
iShares Ultra High Quality Euro Government Bond Index Fund  Sid Swaminathan
iShares US Corporate Bond Index Fund N/A
iShares World ex Euro Government Bond Index Fund Francis Rayner
Edmond de Rothschild - Emerging Corporate Bonds Stéphane Mayor and Marc Lacraz
Matthews Asia Funds - Japan Fund  Kenichi Amaki
Matthews Asia Funds - Pacific Tiger Fund Sharat Shroff
Oddo Active Smaller Companies Guillaume Chieusse, Elodie Lehmann and Yannig Pariset 
Oddo Avenir Euro Pascal Riégis, Grégory Deschamps, Frédéric Doussard and Sébastien Maillard
Oddo Generation Emmanuel Chapuis, Javier Gomez Rodriguez, François-Régis Breuil and Guillaume Delorme
Multi Units France - Lyxor EURO STOXX Banks (DR) Ucits ETF N/A

In addition, at the firms’ request, the CCR dropped from its list all funds available for AFP investment from managers Eagle Asset Management and First State Investments, according to the document.

As of October 31, AFPs had not invested in funds from either firm, according to data from Chile’s pension regulator.

First State Investments declined to comment. It is understood that while the firm had added its funds to the CCR list, Chile wasn’t a top priority market for the firm.

Eagle Asset Management didn’t reply to a request for comment in time for publication. 

Here’s the full list of dropped Eagle and First State funds:

  • Eagle Capital Appreciation Fund
  • Eagle Growth & Income Fund
  • Eagle Series Trust - Eagle Mid Cap Growth Fund
  • Eagle Series Trust - Eagle Mid Cap Stock Fund
  • Eagle Series Trust - Eagle Small Cap Growth Fund
  • First State Global Listed Infrastructure Fund
  • First State Global Property Securities Fund 
  • First State Global Resources Fund
  • First State - Stewart Investors Asia Pacific Leaders Fund
  • First State - Stewart Investors Global Emerging Markets Leaders Fund
  • First State - Stewart Investors Indian Subcontinent Fund

Finally, the regulator also dropped the Barings Global Emerging Markets fund because its assets were ‘too concentrated’ among few investors.

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