CHILE - Chilean pension funds were up 15% for the year ended September 30, with assets reaching US$106.5bn, according to data released by the Superintendencia de Pensiones, the national pension watchdog.
The increase represents a jump in assets of nearly $14bn.
For the month of September, returns for the country's five pension funds ranged from 1.6% for the most conservative, to 5.09% for the riskiest.
The main driver for returns was the funds' holdings in international equity assets, the Superintendencia said. The riskiest fund, Tipo A, held 60.7% of its assets in non-Chilean equities. The most conservative fund, Tipo E, had a 10.5% allocation to foreign equity.
Separately, holdings in local equities also proved to be a boon, particularly holdings in the natural resources, service and electricity industries, Superintendencia said.
Tipo A invests 16% in these securities while Tipo E allocated 8%.
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