The Chilean regulator has approved new fixed income funds, a number of which focus on emerging markets, for investment by the country's AFP pension funds.
According to its November update, the regulatory body Comision Clasificadora de Riesgo (CCR), has approved 11 foreign mutual funds and one MSCI EMU Index Ucits ETF.
The regulator rates and approves the instruments Chile’s six pension giants are able to invest in.
It has also scrapped five mutual funds, including two UBS funds for falling below the regulator’s $100 million asset minimum, the UBS Sicav Asian Local Currency, managed by Ashley Perrott and the UBS USA Multi Strategy fund, managed by Arthur Gresh.
It also took the Edmond de Rothschild Bond Allocation fund off the list because it was absorbed into another fund, as well as the JP Morgan Funds US Research Enhanced Index Equity fund and the Pimco RAE Fundamental Plus fund, as its holdings were too concentrated, falling foul of CCR’s requirements.
Below is the list of approved mutual funds and their respective managers:
|Ashmore Sicav Emerging Markets Local Currency Bond/Ashmore Sicav Emerging Markets Sovereign Debt Fund||Mark Coombs, Robin Forrest, Herbert Saller, Ricardo Xavier|
|AXA World Funds - Global Inflation Short Duration Bonds||Jonathan Baltora|
|BNY Mellon Global Bond||Paul Brain|
|BNY Mellon Global Equity Income||Nick Clay (Citywire +)|
|Eastspring Investments US Corporate Bond Fund||Mark Redfearn (Citywire A)|
|Investec GSF Emerging Markets Investment Grade Corporate Debt Fund||Peter Eerdmans (Citywire A) and Victoria Harling (Citywire AAA)|
|Pimco Mortgage Opportunities Fund||Joshua Anderson (Citywire AA), Daniel Hyman (Citywire A) and Alfred Murata (Citywire A)|
|Stone Harbor Emerging Markets Debt||n/a|
|Stone Harbor Emerging Markets Local Currency Debt||n/a|
|UBS (Irl) Select Money Market Fund||n/a|