Irish-domiciled UCITS subject to tighter rules by Chilean regulator

Tue Sep 6, 2011




UCITS funds domiciled in Ireland have been disapproved for general investment by the Chilean pensions regulator.

The Comisión Clasificadora de Riesgo is responsible for establishing approval procedures for investment funds for Chilean pension fund investment.

This means Irish-domiciled funds are subject to stricter investment conditions as they are now restricted investments, according to the rules. It is believed that around $6 billion in Chilean pension assets are invested in Irish UCITS funds.

Gary Palmer from IFIA

Irish funds have been downgraded from general to restricted investment for failing to comply with pension regulations which state that the rating of the country in which the fund, its manager or holding company should have a registered A rating.

Last year Ireland underwent a series of credit rating downgrades due to...

ISSN: 2151-1845 / CDC10004H

Register

By registering you will receive

  • A monthly newsletter on your specified areas of interest
  • A fortnightly update on the sector

Free Trial

Take a trial today and access

  • Performance news, fund launches, regulation changes and people moves
  • Profiles of fund managers, investors and distributors
  • Live league tables
  • Investor mandates


Popular Searches on HFI