The Chilean structured products market is buzzing with activity at present, with seven capital-guaranteed mutual funds being marketed to retail investors.
Recent issues from BBVA, Scotia Bank, Banchile and Santander have been followed by a new wave of investment strategies linked to a variety of underlying indices.
BCI Asset Management, the most active issuer at present, is marketing four capital-guaranteed funds.
Amazona, Generación Alternativa, 19 Recursos Naturales and Soviet are all three-year funds offering between 50% and 100% participation (depending on considerations established in the product's final conditions) in the average monthly growth of the DJ Brazil Titans 20 ADR, World Alternative Energy, DJ AIG Commodities and Russian Depository indices, respectively. Amazona and Generación will be available until 31 August, while 19 Recursos Naturales and Soviet will be available until 13 September.
Banco Estado, another fund manager, is marketing Fondo Mutuo BancoEstado Garantizado Tesoro Americano, a two-year structured fund offering a 100% capital return at maturity plus between 90% and 120% participation in the average growth of the S&P500. It will be available until 2 October.
BICE fund management is marketing Fondo Mutuo BICE Belo Horizonte Garantizado, an 18-month capital-guaranteed cliquet strategy offering 100% capital return at maturity plus 100% participation in the sum of monthly performances of the IShares MSCI Brazil Index during the investment term, with a 2.5% cap and a -4.5% floor. Belo Horizonte Garantizado will be available until 8 September.
Finally, BBVA's Admisnitradora de fondos mutuos has extended the offer period of its Fondo Mutuo Garantizado Panda 2, a three-year growth product linked to the performance of the Chinese Hang Seng index. The product guarantees invested capital, plus between 90% and 100% participation in the average monthly growth of the underlying during the investment term.
Garantizado Panda 2 will be available for retail investors until 23 September.
