The list of instruments in which Chilean pension funds can invest continues to grow, and July was no exception. The most recent meeting of the Risk Rating Commission (CCR) — the entity that determines which asset managers and funds can offer their strategies to the AFPs — gave the green light to two alternative asset managers and a dozen funds, including two ETFs.
According to a statement, the entity’s latest meeting — held this week — resulted in a series of approvals, including the two alternative asset managers, which were cleared for investment vehicles and co-investment operations for a specific asset.
The U.S.-based Greenbriar Equity Group received approval for private equity. This is a specialized manager with a strong focus on growth. “We don’t invest in trends or market cycles; we invest in great companies and management teams in sectors where we’ve spent our entire careers,” is how they describe themselves on their institutional website. In terms of sectors, they are primarily dedicated to companies involved in the supply chain and business services — such as logistics, specialized distribution, and transportation, among others — as well as advanced manufacturing firms, including those in aerospace, defense, and vehicles.
In the case of Sweden’s Niam AB, although the firm offers a broad range of strategies across the alternatives spectrum — including real estate, infrastructure, and credit — the CCR approval involves real estate investments. In this segment, the firm is particularly active in the European market, investing in assets across all sectors in Sweden, Norway, Finland, Denmark, and Poland.
Liquid Asset Funds
However, the investable universe for the AFPs expanded not only in the area of illiquid assets this month. A dozen funds — including a couple of index strategies — were also added to the list, brought in by a handful of international asset managers.
In terms of mutual funds, the CCR approved two Morgan Stanley vehicles, both focused on Asian equities: the Indian Equity and Japanese Equity strategies; and four UBP Asset Management (Union Bancaire Privée) fixed income funds: Dynamic US Dollar Bond, Global High Yield Solution Extended Duration, Hybrid Bond, and Medium Term US Corporate Bond. In addition, they added the European equity strategy Tocqueville Value Euro ISR, managed by LBP AM (formerly known as La Banque Postale Asset Management).
Pictet completes the list of newly incorporated mutual fund shares, with three thematic equity strategies: Quest AI-Driven Global Equities, Quest Europe Sustainable Equities, and Quest Global Sustainable Equities.
On the side of index-tracking vehicles, two Franklin Templeton ETFs were also approved: Franklin FTSE India UCITS and Franklin S&P 500 Paris Aligned Climate UCITS.
