CHILE - Chilean pension funds posted an overall positive result during the month of March, reaching a total value of US$82.2bn, data by the national watchdog revealed.
Despite those gains, the overall value of the funds had a year-on-year decline of 14.8%, with a total loss of US$14.2bn.
The Superintendencia said the positive returns were due to gains on the foreign equity allocations, which varies from 49.9% in Fund A to 7.1% in Fund D.
It added the emerging markets allocations also contributed positively to the funds' results, since the MSCI Global Emerging Markets index grew by 11%.
However, fixed income investments - which represent from 20.5% to 7.6% of the funds portfolios - negatively impacted the overall results.
The five Chilean state pension funds allocate 46.5% of their aggregate portfolio to national assets. Around 23% is allocated to national equities and the rest is allocated to fixed income.
The remaining 53.5% of the aggregate portfolio is allocated to foreign assets, with around 50% allocated to foreign equities.
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