Chile’s risk regulator has expanded the number of asset management groups now available to the country’s AFPs following the addition of funds from Kames Capital and Macquarie Investment Management.
In the latest monthly report of the Comisión Clasificadora de Riesgo (CCR), the agency that greenlights the funds the country’s AFPs can invest in, the addition of UK group Kames and its Australian counterpart Macquarie brings the total number of asset managers on its approved list to 84.
In total, the CCR approved three new funds in July:
- HSBC GIF Economic Scaled Index GEM Equity
- Kames High Yield Global Bond – run by Philip Milburn and David Ennett
- Macquarie Asian All Stars – managed by Samuel Le Cornu and Duke Lo
In June, Macquarie signed a deal with Chilean distributor Picton to promote and distribute its Asian Ucits fund to pension funds in Chile, Peru and Colombia.
Approval and inclusion on the CCR’s list is the first necessary step for asset managers' funds to be eligible for investment by Chile’s AFPs.
Funds struck off
The risk regulator also removed four funds from its approved list that belong to asset managers Pictet, MFS, UBS and GAM for dropping below its minimum asset criteria.
It said the fund’s had dropped below the $100 million requirement in assets under management. The funds include: