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Green light list: Chile approves only four new Lux funds

Green light list: Chile approves only four new Lux funds

The month of September proved a challenging time for asset managers wanting to register their Ucits funds for sale in Chile as only four were given the green light by its Risk Rating Commission (CCR).

While in the month of August the CCR approved two dozen funds, with a large number coming from the same asset manager, in September this number dropped dramatically.

Of the four Luxembourg-domiciled funds that were granted approval, two are run by Latin American groups BTG Pactual and LarrainVial Asset Management.

Funds

Fund Managers

LarrainVial Asset Management SICAV - Small & Mid Cap Latin American Equity

Tomas Langlois/Martin Benitez

Oyster - European Opportunities

Eric Bendahan

BTG Pactual SICAV - Latin American Equity

N/A

Santander SICAV - Santander Latin American Corporate Bond

Alfredo Mordezki

Rejected funds

A number of funds have also been rejected from the list by the CCR in their latest round up. The following Luxembourg-domiciled funds were not approved on the grounds that the individual funds' assets under management are either equal to or below USD 100 million.

Funds Fund Managers
Credit Suisse Fund I (Lux) - Bond Global Corporates Michael Schmid
Investec Global Strategy Fund - American Equity Fund Mark Wynne-Jones/Alastair Mundy
Investec Global Strategy Fund - Managed Currency Fund Tim O'Dell/Paul Carr
JPMorgan Funds - Highbridge Diversified Commodities Fund Highbridge Capital
Pictet Total Return - Mandarin Lan Wang Simond
Parvest - Enhanced Cash 18 Months Frederik Mackel
Schroder International Selection Fund - Japanese Equity Alpha Nathan Gibbs
Schroder International Selection Fund - Wealth Preservation EUR Malcolm Melville/Abdallah Guezour
SEB Sicav 2 - SEB Eastern Europe Small Cap Fund Sander Danil
UBS (Lux) Equity Fund - Singapore (USD) Manish Modi
UBS (Lux) Equity Fund - Taiwan (USD) Shou-Pin Choo
 

The CCR did also disapproved the following funds as it deemed their ownership to be too concentrated:

Funds Fund Managers
ACMBernstein - Global Value Portfolio Sharon Fay/Kevin Simms/Avi Lavi/Takeo Aso
Amundi Funds - Equity ASEAN Timothy Teo
Amundi Funds - Equity India Sidharth Mahapatra
Vontobel Fund - European Mid and Small Cap Equity David Houston
 

These last funds were disapproved following a request from their management company:

Funds Fund Managers
ING (L) Invest Greater China Oscar Leung/Guy Uding/William Pang
ING (L) Invest Japan Miyuki Kashima

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