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