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Welcome Boost For UCITS Funds In Chile

Author:Mr Conor Boden, David Walsh and Brian Higgins
Profession:Dillon Eustace

In welcome news for UCITS funds, the Chilean private pension fund regulator (known as the Superintendencia de Pensiones ("SP")) recently clarified that Chilean private pension funds (often referred to as Administradoras de Fondos de Pensiones ("AFPs")) can invest in UCITS funds pursuing "hedge fund-like strategies".

By way of background, the original proposal by the SP appeared to ban investment by AFPs in hedge funds and funds which pursued hedge fund type strategies. However, there was a lack of clarification around the proposal, which created uncertainty as to whether existing investments could be deemed ineligible and it even appeared that some UCITS would be caught.

Dillon Eustace worked with local industry stakeholders on the SP's original proposal to...

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