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Chile AFP regulator drops pair of Templeton and Schroders funds from approved list

Chile AFP regulator drops pair of Templeton and Schroders funds from approved list

The Chilean risk regulator approved eight new products for access by its AFP pension funds and struck off funds from Franklin Templeton and Schroders for falling below its asset criteria.

In its December update the Comision Clasificadora de Riesgo (CCR), the regulator that rates and approves the instruments Chile’s six pension giants are able to invest in, approved mutual funds from French group BNP Paribas, Pioneer Investments and Italian group Azimut as well a money market and an index fund from State Street and Vanguard respectively.

Among its criteria for including and keeping a fund on its approved list is that it must have a minimum of $100 million (€96 million) of assets under management.

Last month five funds fell below this limit, with the $87 million Franklin Templeton MENA and the $66 million Schroder ISF UK Opportunities among them.

The other excluded funds are:

  • Eurizon EasyFund Equity Emerging Market Asia LTE
  • iShares 1-3 Year International Treasury Bond ETF
  • Parvest Equity Best Selection Europe ex-UK

Below is a list of December’s approved mutual funds and their respective managers: 

Fund NameFund managers
AZ Fund 1 - Real Plus
N/A
BNP Paribas Flexi I - US Mortgage
John Carey
(BNP Paribas) Parvest Bond World Income
Olivier Laplenie
(BNP Paribas) Parvest - Equity Germany
Patrick Dugnolle
(BNP Paribas) Parvest - Money Market EuroPascale Benguigui
Pioneer Funds - Global Subordinated Bond
Cosimo Marasciulo, Vianney Hocquet
State Street Institutional US Government Money Market FundState Street
Vanguard Japan Government Bond Index FundVanguard

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