Chile life and pensions: 2000 results

Chile s eight pension fund management companies, the administradoras de fondos de pensiones (AFPs), whose assets totalled nearly US$37bn at the end of February 2001, have published their results. These show that they performed somewhat better for their shareholders than for their beneficiaries. The latter had a return of 4.4% on their funds last year, well down from the 16.3% delivered in 1999. Nevertheless, the management companies saw their earnings jump by 73.3% to $227mn. This almost matched the 81.3% increase achieved in 1999. The return on equity (RoE) was up from 30.5% in 1999 to 50.2% last year.