Meeting at the Santiago Stock Exchange and agreeing with its vision about the importance of sustainability and the corporate governance of the companies, local investors representing Pension Fund Managers and Mutual Fund Managers and Investment Funds Managers, concluded and they want to express the following to the market:
• We are living in times of profound changes, where businesses are constantly challenged, consumers are more informed and demanding, technology is generating new opportunities and the cycles and response times are shortening. We are witnesses of the advance of the IV Industrial Revolution, as well as climate change. This has revealed the need for companies anywhere in the world to adapt themselves both to develop new opportunities and to avoid new risks.
• In this fast changing era, and in order to generate long-term value for our beneficiaries, the undersigned believe that the capital market requires a vision of companies issuing public offering securities which incorporates environmental, social and governance (ASG) criteria in their business and a risk matrix so that it can ensure a sustainable development of their activities over time.
• The due diligence for responsible business conduct must set up an action framework for all market players, where the environment, sustainability and corporate governance are a core and determining factor for the assessment of any long-term investment. Accordingly, we are convinced that good management and proper assessment of the environmental, social and corporate governance (ESG) factors have a direct impact on the financial results of companies and reduce the risk of investments.
• We want to invite issuers to consider advancing in sustainability matters in a measurable, quantifiable and transparent way as an objective, acknowledging that it is a challenge that all market players are facing gradually, but with increasing urgency.
• As investors, we acknowledge the importance of contributing to sustainable development and we are committed to the active promotion of responsible investment in the Chilean capital market.
Banchile Administradora General de Fondos S.A.
BTG Pactual Chile S.A. Administradora General de Fondos
Compass Group Chile Administradora General de Fondos
Itaú Administradora General de Fondos S.A.
LarraínVial Asset Management Administradora General de Fondos S.A.
Moneda Asset Management
Principal Administradora General de Fondos S.A.
Santander Asset Management S.A. Administradora General de Fondos
Bolsa de Comercio de Santiago
About AFP Capital
AFP Capital is a company of SURA Asset Management Chile, a company operating in the pension, life insurance, mutual funds and stocks markets. As of December 31, 2018, AFP Capital has 1.6 million clients and manages USD$ 40 million in assets. It is present in 30 cities throughout the country and, additionally, it is the only AFP present in Easter Island.
About SURA Asset Management
SURA Asset Management is a subsidiary of SURA Group, expert in Pensions, Asset Management, Savings and Investments and present in Mexico, Peru, Chile, Colombia, Uruguay and El Salvador. As of December 2018, SURA Asset Management’s AUM amounts to USD$129 billion owned by 19.7 million customers in the region.
* Customers and AUM include AFP Protection in Colombia and AFP Crecer in El Salvador, although not controlled companies, SURA AM holds a significant stake.