- The operation of this new company is subject to authorization by the corresponding authorities in both Colombia and Luxembourg.
- The Company has established itself as a key player in the industry by being one of the few asset managers of Latin American origin with this type of license.
SURA Asset Management, through its subsidiary in Chile, has incorporated an Investment Company with Variable Capital (ICVC) to manage investments in funds located in Luxembourg. SURA Investment Management, (a subsidiary of SURA Asset Management), an expert in asset management for institutional clients will operate this investment vehicle. In order for the ICVC to begin operations they must obtain authorization as UCITS (Undertakings for Collective Investment in Transferable Securities) from the Surveillance Commission of the Financial Sector (CSSF for its acronym in French Commission de Surveillance du Secteur Financier) following its incorporation.
The ICVC, as this type of vehicle is known, is a company that invests and/or manages financial products from one or more jurisdictions and from which investors acquire shares as a way of investing in these products. What makes it an excellent instrument for large global investors is that it has particular flexibility and coverage, thus enhancing SURA Investment Management’s strategy in the international market.
"This is a very important milestone for SURA Asset Management and its business development strategy, since it puts the Company at the level of the most relevant global asset managers, it strengthens our value proposition and validates the high standards with which SURA manages its operations” stated Ignacio Calle, CEO of SURA Asset Management.
Through this vehicle in Luxembourg, SURA Investment Management strengthens and supplements its international operation, enhancing access for international clients, and offering its investment platform, which has a special focus on Latin America given the Company’s insight and experience in the region.
On this note, Pablo Sprenger, CEO of SURA Investment Management, added: "We will advance towards our growth objectives with this vehicle. We will have better access to international clients, mainly in Europe and Asia. Each new step demonstrates the capabilities we have as a global asset manager: the high standards in corporate governance, the quality of our investment processes, and of our highly qualified human talent.”
This vehicle strengthens SURA Investment Management’s credentials for building a sustainable line of business in asset management, positioning the Company as a player with global standards in the region, where it also has a leading role in the implementation of sustainable investment, by adhering to the PRI (Principles for Responsible Investment) since 2019.
The incorporation of this vehicle implies a rigorous process. In the case of SURA Investment Management, this process has taken several months during which the Company has demonstrated its abilities as an investment actor, based on its corporate governance and human talent.
About SURA Investment Management
SURA Investment Management is the subsidiary of SURA Asset Management dedicated to asset and investment management for the institutional segment. Our knowledge, together with our broad presence in several Latin American countries, all integrated into a single regional platform, make us an optimal investment vehicle connecting the region with global markets.
We create tailored solutions for our clients, seeking to contribute to their competitiveness through different funds and investment mandates in instruments such as equity, fixed income, multi-asset, insurance, mandates, and alternative assets, among others. We develop a regional platform with scalable operating models and high standards in portfolio management and institutional customer relations.
About SURA Asset Management
SURA Asset Management is an expert Company in pensions, savings and investment with presence in Chile, Mexico, Colombia, Peru, El Salvador and Uruguay. It is a subsidiary of Grupo SURA, with other minority shareholders. As of December 2019, the Company has USD 148.0 billion in assets under management belonging to approximately 20.5 million clients in the region.
* Clients and AUM include AFP Protección in Colombia and AFP Crecer in El Salvador