Euroamérica Administradora General de Fondos, the fund manager of Compañía de Seguros de Vida Euroamérica, one of the oldest insurance companies in Chile with total assets of over $75m and more than $1.5bn of assets under management, has entered the Chilean structured products market with its first capital guaranteed product.
Fondo Mutuo Euroamerica Garantizado Norteamérica 108 is a three-year uncapped call growth product. The fund offers a fixed 108% return to investors holding the product until maturity, alongside participation of between 60% and 100% of the average monthly growth of the S&P500 over the investment term. The product will be available for Chilean investors until 20 December for a minimum investment of $792.
BBVA’s fund manager in Chile, BBVA Administradora General de Fondos, is also marketing a follow up tranche to its Fondo Mutuo BBVA Garantizado Ultra Depósito, launched back in January. The follow-up fund is another three-year capital-guaranteed growth product based. The product pays 115% at maturity (3% higher than the previous tranche) plus the difference between 6%, if the variation is positive, and the UF. UF, Unidad de Fomento, is based on inflation over the last two months, so the real purchasing power of one UF remains the same but fluctuates relative to the peso.
If the condition is not met, the product guarantees 115% of the initial investment. Fondo Mutuo BBVA Garantizado Ultra Depósito 2 will be available in the retail market until 17 November. Minimum investment is $100.