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Where are Chile's AFPs investing?

Bnamericas
Where are Chile's AFPs investing?

Chile's pension funds (AFPs) returned to the local stock market in August after a month of divestment, becomingnet buyers with a US$17.5mn net investment.

The sectors favored by the AFPs were banking and retail, while they reduced their exposure to electricity and water utilities, according to Bice Inversiones, the investment unit of Banco Bice.

The largest investments in companies were made in Banco de Chile (US$23.9mn), telecom company Entel (US$18.9mn), retailer Falabella (US$12.6mn), electricity generator AES Gener (US$9.7mn) and forestry product and gasoline distributor Copec (US$8.8mn),

The largest divestments were seen in the utilities Enersis (US$19.3mn), Endesa (US$16.0mn) and Colbun (US$9.6mn), as well as food & beverage producer CCU (US$9.3mn) and Banco Santander (US$5.5mn).

In the 12-month period up to end-August AFPs had accumulated a net investment of US$249.6mn.

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