Chile adds UBS and AXA, cuts Janus funds from AFP list

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Chile’s pension fund risk regulator has added six new mutual funds to the list of approved products the country’s AFP pension fund managers can invest in as well as a slew of new ETFs.

The latest monthly report from the Comisión Clasificadora de Riesgo (CCR) published at the end of March included additional funds from AXA, BMO Global Asset Management, UBS, GAM and Dimensional Fund Advisors.

The list of new mutual funds is as follows:

Alongside the new mutual funds, the CCR also greenlit a total of eight new State Street ETFs. The list of new passive products is as as follows:

  • SPDR Index Shares Funds – SPDR Portfolio Europe ETF
  • SPDR Index Shares Funds – SPDR Portfolio MSCI Global Stock Market ETF
  • SPDR Series Trust – SPDR Portfolio Long Term Corporate Bond ETF
  • SPDR Series Trust – SPDR Portfolio Long Term Treasury ETF
  • SPDR Series Trust – SPDR Portfolio Mortgage Backed Bond ETF
  • SPDR Series Trust – SPDR Short Term Corporate Bond ETF
  • SPDR Series Trust – SPDR Short Term Treasury ETF
  • SPDR Series Trust – SPDR S&P Kensho New Economies Composite ETF

The risk regulator also approved an alternative product from European private equity firm PAI Partners focused on private capital investments.

Dropped products

In terms of cutting strategies, the CCR axed two mutual funds in March, the AZ Multi Asset – Institutional Italy T fund from Azimut which was pulled at the manager’s request, and Janus Henderson’s UK & Irish Smaller Companies fund which was absorbed.

Lastly, the CCR denied the risk classification of a series of bonds from Chilean bank and securitized asset provider Securitizadora Security for not providing the proper risk information on the fixed income securities, the regulator said.