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FIAP > Destacados Boletines > The Association of AFPs (AAFP) proposed creating a new instrument for the pension funds to invest in small and medium-sized enterprises (SMEs)
17 April, 2020

The Association of AFPs (AAFP) proposed creating a new instrument for the pension funds to invest in small and medium-sized enterprises (SMEs)

This was proposed during the crisis caused by the propagation of the Covid-19 virus, according to Fernando Larraín, CEO of the AAFP, who explained that this would be a fund created exclusively to provide liquidity to the SMEs, helping them to get through this difficult time, providing them with the economic resilience to face what is coming and help to protect employment. This fund should be able to obtain better returns than national debt (which is giving very low returns), thus complying with the fiduciary obligations of the AFPs. The investment fund should be able to count on more than US$1 billion. The Pensions Commission could create this instrument proposed by the AFPs by statutory means, should it deem it appropriate.

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