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The ten biggest international funds backed by Chile's AFPs revealed

Chilean AFPs have been heavily investing in Asia, but the fund where they've parked the most money isn't in that region.

International investing trends

Asian equities might make up roughly 17% of Chilean pension funds’ total foreign investment, but their top fund pick isn’t from that region.

According to data from Chilean pension regulator Superintendencia de Pensiones, as of the end of March, Chile's six AFPs had channeled close to 66.6% of their $73.5 billion total foreign allocation to developed markets, a 3% drop compared to December. In total they run $186.2 billion in pension assets.

The pension funds reduced their exposure to Europe from 19.9% to 18.2% as of the end of March, though they pumped $320 million into Europe in April, making it the top gaining region so far this year.

For their part, investments in emerging markets accounted for 30.2% of total foreign investments, an almost 4% net increase since December. Investments in Latin America have gone up about 2% to 12.3% in the last quarter.

Despite the AFPs' increase in emerging market allocation and retreat from developed markets, the fund in which the pension funds have invested the most assets is a single-country European fund.

Click through to see the ten international funds that have received the most investment from the AFPs.

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