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AFP Fund E falls 10.39% in real terms in 2026, with Modelo posting the largest loss
All seven AFPs are in the red in the most conservative fund, and Superintendent Joaquín Cortez expressed concern about the results.
All seven pension fund administrators lost almost the same amount in Fund E after making the same bet
Experts attribute all administrators’ use of derivatives tied to U.S. interest rates, with nearly identical results, to the “herd effect.”
Fund E: Central Bank warned of swap risks before 10.39% decline
All seven pension fund administrators replicated a derivatives bet on falling U.S. interest rates that, according to Bloomberg, has accumulated US$7,700 million in valuation losses.
Chile's Fund E loses 9.38% in real terms while Peru's riskiest fund gains 25.99%
Experts attribute the gap between the two countries' pension fund administrators to different investment rules and strategies, rather than one model being better than the other.
Sistema Único de Cobranza de Cotizaciones: la nueva sociedad encargada deIn Spanish
Sistema Único de Cobranza de Cotizaciones: la nueva sociedad encargada de “cazar” las deudas previsionales Este mes entró en vigor la primera etapa del nuevo.In Spanish
Pension fund managers go from US$1,400 million gain to US$7,700 million loss on U.S. bets
Swaps betting on lower U.S. interest rates hit Fund E, which is down 10.4% this year, while economists disagree on the scale.
AFP Fund D loses 6.38% in real terms in 2026 and has a high concentration of members nearing retirement
Four in ten Fund D members are over 60, and all AFP pension fund managers recorded losses in that fund between January and September.
Pension fund managers’ Fund E loses 10.39% in real terms in 2026 on interest rate swap bet
Derivative contracts that amplified the impact of rising US interest rates explain almost the entire decline in the most conservative fund, which has 768,836 members.
Presupuesto que destinaron las AFP a la Asociación se redujo 37% el año pasadoIn Spanish
Presupuesto que destinaron las AFP a la Asociación se redujo 37% el año pasado El financiamiento oficial que desembolsaron las AFP para la operación del gremioIn Spanish
Pension funds’ Fund E falls 10.39% in real terms in 2026 as Mas blames previous government
The minister of Economy and Mining attributes the plunge in the most conservative fund to earlier decisions and says they have already been corrected.
Pensiones: Superintendencia propone 15 fondos generacionales para abril de 2027In Spanish
La Superintendencia de Pensiones presentó un diseño preliminar de 15 fondos generacionales que reemplazarían los multifondos desde abril de 2027.In Spanish
Exjefe de AFP Habitat: el préstamo del 1,5% no tiene justificación técnicaIn Spanish
Cristián Rodríguez Allendes, exjefe de AFP Habitat, critica el préstamo del 1,5% y advierte que la reforma omite el alza de la edad de jubilación.In Spanish
