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British asset manager targets Chile with distribution deal

British asset manager targets Chile with distribution deal

UK investment management firm Kames Capital has entered the Chilean market through a distribution agreement with local financial advisory firm HMC Capital.

Through HMC, Chile’s six pension funds will be able to buy into the Kames High Yield Global Bond Fund, according to a statement from Kames announcing the partnership. Managers David Ennett and Philip Milburn run the Ireland-domiciled vehicle.

The Comisión Clasificadora de Riesgo, Chile’s risk regulator, added the fund in July to its list of approved vehicles for investment by the AFPs. 

‘The Chilean market opens new and exciting opportunities for Kames, not least in its pension industry’s search for high quality, established bond capabilities,’ said Peter Ball, director of institutional business for the $56.7 billion UK investment manager. 

‘Kames is well placed to meet this need and has a proven track record in managing dedicated high yield bond funds since 2002.’

HMC capital distributes $3.5 billion for managers such as Neuberger Berman, Matthews Asia and Acadian, according to its website. 

The deal with Kames, which is based in Edinburgh, Scotland, comes on the heels of other partnerships between Chilean and international asset managers, including Banchile's recent agreement to distribute Edmond de Rothschild. 

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