Santander AM has launched a corporate debt fund in Chile, the asset manager of the Spanish group announced.
On 17 August, its first day on the market, the new investment vehicle AUM stood at $20.3bn.
The new fund will invest in Chile’s medium and long-term corporate debt, with the possibility of investing in debt issued by foreign entities in Chile.
The fund is being managed by the company’s Fixed Income team, lead by Juan Camilo Guzmán.
The fund “aligns properly liquidity of the underlying assets with the interest of long-term investors”, Guzmán said.
“This will signifcantly reduce the need to invest in low-yielding liquid assets such as deposits and boverment bonds,” he said.