Chile Allows PFs To Invest In FX

Chile has allowed its private pension fund managers to invest directly in foreign currencies for operational purposes,The Wall Street Journalreports. The move seeks to give funds, known as AFPs, more flexibility when investing in foreign securities, addsBloomberg.

The retirement systems will have a list of certain foreign currencies they will be allowed to invest in. AFPs are Chile’s largest institutional investors that have around $148.4 billion in assets under management.

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