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About Us

Who we are

LarrainVial Asset Management is a division of LarrainVial, a major financial institution in Latin America. Today LarrainVial Asset Management features a team of around 70 professionals who manage close to USD 6 billion in assets through mutual funds, investment funds and portfolio management.

Mission: Provide an excellent quality service in asset management for individuals, companies and institutions.
Vision: Be recognized as an expert and leader in asset management in Latin America.

About LarrainVial Asset Management Sicav

In 2011, LarrainVial Asset Management became the first fund manager in the Andean Region to domicile its funds in Luxembourg by forming LarrainVial Asset Management SICAV, an investment company with variable capital, with its own legal personality, subject to Part I of the December 20, 2002 law on Collective Investment Institutions (UCITs), and overseen by Luxembourg's Commission de Surveillance du Secteur Financier (CSSF).

As LarrainVial Asset Management we fulfill our role as promoters and managers of the investments of these funds. Our responsibilities include the design and launch of products, business management, and the definition and implementation of the investment strategy and portfolio composition, under the control of our teams based in Santiago, Chile.

After LarrainVial Asset Management SICAV started operations and up until June 2015 it received strategic support in Luxembourg from Banque de Luxembourg and its fund management subsidiary Conventum Asset Management. The close and trusting relationship with them helped us start our operations and develop our business for four years.

However, in November 2014, and due to the fact that the growth plans of LarrainVial Asset Management SICAV implied new challenges, we opened our doors to both Banque de Luxembourg and other competitors to present us with updated proposals for their services and the advantages of their brand, in order to select an alternative that was simultaneously the most competitive and equal to the requirements of our future projects.

The choice of new partners took more than three months and included due diligence questionnaires, meetings and in situ visits, observing both quantitative and qualitative factors. Finally, in March 2015, we chose Lemanik Asset Management (LAM) as Management Company and BNP Paribas Securities Services (BNPPSS) as Depositary, Custodian, and Administrator, setting the date of the migration for July 1. After months of coordination, we met that deadline and closed the semester requesting that KPMG audit the financial statements to June, so that the transition would be properly supported and validated.

Lemanik Asset Management was founded in Luxembourg in 1993 and it has a team of 70 professionals that provide services to more than 40 clients. Independently owned, it manages USD 30 billion in AUM from 220 funds distributed in more than 26 countries. The independence of the Management Company from the Depositary was one of the reasons why we chose the combination of LAM-BNPPSS, as this represents best practice for the corporate governance of the company.

BNP Paribas Securities Services belongs to the BNP Paribas group. It has been in the market for more than 30 years and acts as custodian for around USD 10 billion in assets. It is a team that has a global presence, local knowledge of every market, and a vast network of contacts, which gives LarraínVial Asset Management SICAV access to economies of scale in terms of costs, proven expertise in certain processes that are key for growth, and the high added-value of direct links with potential clients.

As the Management Company of our SICAV funds, Lemanik Asset Management will be responsible for the following duties:

  • Management of the SICAV.
  • Carrying out compliance processes and risk management.
  • Recording and accounting of transactions.
  • Calculating of the Quota Value.
  • Flow of contributions and withdrawals.
  • Acting as secretary of the Board.
  • Preparation and submission of reports to the local regulator (CSSF).

Lemanik is also responsible for control and compliance, having designated Sandrine Formica as Compliance Officer for LarrainVial Asset Management SICAV and its sub-funds. LarrainVial Asset Management SICAV is audited annually by KPMG and, as already mentioned, is subject to the oversight of the Commission de Surveillance du Secteur Financier, the financial supervisory authority in Luxembourg.

BNP Paribas Securities Services, meanwhile, acts as Depositary. In European law, the Depositary is more than a simple custodian. It has a subsidiary role of monitoring and compliance regarding the other actors involved, ensuring that the investments of the funds comply with legal requirements and internal regulations.

BNP Paribas Securities Services also acts as Administrator and Transfer Agent, dealing with back office responsibilities.

The Board of LarrainVial Asset Management SICAV is formed by the following executives from LarrainVial Asset Management:

  • José Manuel Silva Cerda
  • Ladislao Larraín Vergara
  • Tomás Langlois Silva
  • Jaime Oliveira Sánchez-Moliní

For legal purposes and compliance, we received advice from the law firm Arendt & Medernach in Luxembourg. It should be noted that LarrainVial Asset Management SICAV participates as a member of the Association of the Luxembourg Fund Industry (ALFI).

LarrainVial Asset Management SICAV current has launched three funds:

  • LarrainVial Asset Management SICAV - Small and Mid Cap Latin American Equity Fund.
  • LarrainVial Asset Management SICAV - Latin American Equity Fund.
  • LarrainVial Asset Management SICAV - Latin American Corporate Debt Fund.

These funds are distributed not only in Luxembourg, but also in Switzerland, Spain, Great Britain, Germany, Austria, Italy, and Chile.

LarrainVial Asset Management's SICAV funds can also be acquired by international platforms, such as Pershing or Allfunds Bank.

This structure allowed the involvement of Peruvian, Colombian, and European institutional investors in the different strategies managed by our company.

Although, from a legal point of view, the role of LarrainVial Asset Management regarding our SICAV funds is limited to managing the portfolio and promoting the funds, the truth is that we apply the same processes of risk management and compliance that we have described to these products. That is, new layers of responsibilities and oversight are added to the control structure of all of our funds in the case of the Luxembourg funds.

Larrainvial
Larrainvial

LarrainVial S.A. LarrainVial Chile. Isidora Goyenechea 2800, 15th Floor, Las Condes, Santiago, Chile.
Tel.: +562 2339 8500Teléfono: +562 2339 8500

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