Chile Revamps Pension FX Hedging Rules

Chile is seeking to change its foreign currency hedging rules for pension funds to regulatory from legal,Bloombergreports. The proposal will allow Chilean pension funds to increase or decrease levels in future.

The retirement systems will also be permitted to invest in debt sold by high-quality companies, which do not have a track record. The amendments will support a market for junk bonds in Chile.

Click here for the story fromBloomberg.