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Chilean regulator approves Asia and Europe funds

Chilean regulator approves Asia and Europe funds

Chile's risk regulator has approved a raft of vehicles, including Asian and European Ucits, for investment by the country's six pension funds. 

In its latest report released Wednesday, the Comisión Clasificadora de Riesgo (CCR), the agency that greenlights the funds the AFPs can invest in, authorized a total of 18 vehicles between ETFs and mutual funds.

Nine newly approved vehicles offer individual country or regional exposure to Europe and Asia.

These regions have been popular with the AFPs. The six pension funds invested a net $320 million in European equities in April, making it the top-gaining region in their portfolios so far this year.

Investments in Asian equities claimed the top spot in terms of total assets as of April, with close to $12.9 billion in AUM. 

Here are the approved mutual funds:

Fund name Manager
Henderson Horizon Fund - Japanese Smaller Companies Fund Yun-Young Lee
Moneda Luxembourg Sicav - Latin America Corporate Credit N/A
Oddo Compass - Euro High Yield Bond Alexis Renault, Ivan Romanenko, Frauke Wolkewitz
PineBridge Global Funds - PineBridge Asia ex Japan Small Cap Equity Fund Elizabeth Soon


The regulator also approved a basket of Ucits ETFs from UBS:

  • UBS (Irl) ETF plc - MSCI USA Value UCITS ETF 
  • UBS (Irl) ETF plc - S&P 500 UCITS ETF 
  • UBS ETF - Barclays US Liquid Corporates 1-5 Year UCITS ETF
  • UBS ETF - Barclays US Liquid Corporates UCITS ETF 
  • UBS ETF - EURO STOXX 50 UCITS ETF 
  • UBS ETF - FTSE 100 UCITS ETF 
  • UBS ETF - MSCI Emerging Markets UCITS ETF 
  • UBS ETF - MSCI EMU Hedged to USD UCITS ETF 
  • UBS ETF - MSCI EMU UCITS ETF 
  • UBS ETF - MSCI Japan Hedged to USD UCITS ETF 
  • UBS ETF - MSCI Japan UCITS ETF 
  • UBS ETF - MSCI United Kingdom Hedged to USD UCITS ETF 
  • UBS ETF - MSCI United Kingdom UCITS ETF 
  • UBS ETF - MSCI World UCITS ETF

The regulator also removed several funds from its list. It approved a request from Goldman Sachs that it drop the firm's BRICs Equity Portfolio and the N-11 Equity Portfolio, managed by Prashant Khemka and Basak Yavuz respectively.

In addition, it dropped the VanEck Vectors ETF Trust - VanEck Vectors Retail ETF because it failed to meet a requirement of having at least $100 million in assets.

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Frauke Wolkewitz
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34/101 in Bonds - Euro High Yield (Performance over 3 months) Average Total Return: 9.99%
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1/14 in Equity - Japanese Small & Medium Companies (Performance over 3 years) Average Total Return: 54.57%
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26/141 in Equity - India (Performance over 3 years) Average Total Return: 58.43%
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348/359 in Equity - Global Emerging Markets (Performance over 3 years) Average Total Return: -9.22%
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