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Chile Reports 13.2% Hike for Pension Funds in Q2

Total assets under management rise to more than $190 billion.

By Michael Katz

Chile’s Superintendency of Pensions reported that as of the end of the second quarter, the total value of assets under management of the country’s pension funds reached $190.07 billion, which represents an increase of 13.2% compared to the same period last year. 

As of Q2, the funds’ investment in Chilean national assets represented 59.6% of the total assets under management, and were concentrated mainly in fixed income instruments. Meanwhile, foreign investments make up 40.4% of the total assets managed.

The quarterly report gives an overview of the investments of the pension funds, and breaks them down by domestic and international investment. The domestic investments are sorted by instrument, issuer, and transactions, while the international investments are sorted by instrument, issuer, foreign fund manager, geographical area and country, currency, and transactions.

Chilean investments accounted for $113.38 billion of the total assets under management in the second quarter, of which 83.1% was invested in fixed-income instruments. The main issuer of the fixed-income investments was the General Treasury of the Republic, where 32.3% of national investment is concentrated, or 19.3% of the total investment of the pension funds.

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During the quarter, pension funds made net purchases of instruments at the national level of $2.16 billion, of which $1.84 billion was in net purchases of fixed income instruments, and $324 million of net purchases was in instruments of variable income.  

The Superintendency said the pension funds’ overseas investments reached $76.68 billion as of June. Equities were the main component of the foreign investment portfolio, with a 65.6% share of total assets abroad. The diversification by geographical area in the second quarter of 2017 shows that 32.7% of overseas investment is registered in emerging markets, 63.8% in developed markets, and 3.5% in other areas. Approximately 30.1% of foreign investment is registered in North America. The US remained the main destination country for investments, although its share of total assets decreased to 12% from 13.8%.

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Home > News > Corporate Moves > Russell Investments Names Michelle Seitz as New CEO
Corporate Moves

Russell Investments Names Michelle Seitz as New CEO

30-year industry leader to succeed Len Brennan, who will become strategic advisor to the firm.

By Chris Butera

Effective January 1, 2018, Michelle Seitz will become Chairman of Russell Investments.


With 30 years of Asset Management experience under her belt, Michelle Seitz will lead Russell Investments as the global asset manager’s new—and first-ever female CEO, effective immediately, the firm announced.

Seitz will be based in Russell’s Seattle headquarters, succeeding Len Brennan, who will serve as chairman through the end of 2017 before becoming a strategic advisor to the firm. Effective immediately, Seitz is a director on the Russell Investment’s board, which she will become chairman of on January 1, 2018.

Prior to joining Russell Investments, Seitz spent 16 years at William Blair Investment Management (WBIM), where she helped transform the fund to unprecedented heights — growing WBIM’s institutional business from $2.3 billion to $65 billion in assets under management. Seitz also served on WBIM’s seven-person executive committee.

“For more than three decades, Russell Investments has been at the forefront of asset management capabilities that are critical for success in today’s investing environment—from cutting-edge asset allocation and unparalleled money manager insights, to some of the earliest forays into factor exposures and a competitively recognized implementation capability,” said Todd R. Crockett, managing director, TA Associates, which acquired Russell Investments in 2016 along with Reverence Capital Partners. “We are excited to welcome Michelle as Russell Investments’ new CEO, and believe that her forward-looking leadership will help propel the firm into a new phase of evolution and growth that will benefit clients and associates alike.” 

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