Agreement N° 31
Here you can access the specific procedures established by the CCR for the approval of shares of Domestic Open-End and Closed-End Funds, which are included in Agreement N° 31. This Regulation was issued by the Commission in accordance with the provisions in articles 99 and 106 of Decree Law N° 3,500, which defines that the CCR shall determine these specific procedures as well as the factors to be considered for their evaluation.
Article 106 of Decree Law 3,500, provides that the requirements for a fund approval shall consider a suitable asset allocation, the fulfillment of the investment objectives, a minimum investment volume at the moment of the approval, among other aspects determined by the CCR.
Agreement N° 31 establishes that the fund shares can be approved upon the prior request of an Pension Fund Managing Company (AFP), taking into account the characteristics of its Internal Regulations, the information provided in the risk rating reports of its shares, the characteristics of the fund and additional factors.
This rule sets forth that the Internal Regulation of the fund shall meet the requirements related to its investment, debt and collateral, asset allocations, handling of the conflicts of interest and investment valuation policies. The concepts to be evaluated upon in the risk rating reports of the shares and the characteristics the funds must comply with are also included in this Agreement.