Standard &Poor’s (S&P), the international risk-rating agency, has ratified for the eighth time on a row the highest rating (AMP-1) (Very Strong) to the Practices for Third Party Funds Management carried by LarrainVial Asset Management (LarrainVial Asset Management Administradora General de Fondos S.A.).
According to S&P, the rating “is based on its strong business profile as one of the largest independent mutual and investment fund managers in Chile. LVAM has good client and product diversification”. This product mix on different risk/return levels, covering a wide client base, contributes to income diversification.
The agency also points out that the rating speaks of a seasoned management team, strong control, operational and risk practices, a well-structured investment process and good fiduciary principles.
S&P stated that LVAM counts with a strong financial profile related to its coherent strategy alignment and its administrative, technological and commercial means, “allowing it to have resources to maintain and continue investing in the improvement of its systems, processes, and internal controls”.
As for LVAM’s strategic vision of being a referent for asset management in Latin America, abiding to transparency and ethics in all aspects of its action, S&P declared once again this year that “its general strategy and specific goals are consistent with its resources amid a favorable operating framework for mutual and investment funds in Chile”.
The agency exposed these and other aspects within the context of Chile’s social crisis and global pandemics that have led to higher risk aversion and a change in the fund industry composition.
LarrainVial Asset Management CEO, Ladislao Larrain, commented that “this new S&P confirmation of our third party asset management practices in a complex context for Chile and the world speaks of excellence in our ongoing activities and allows our investors to rely in our capable handling”.
Since 2010 LarrainVial Asset Management voluntarily submits to Standard & Poor’s rating of its asset management procedures being one out of only five Latin-American institutions to be awarded the highest rating.
LarrainVial Asset Management is the fifth fund manager in the Chilean market. The company holds assets under management in excess of USD 5,400 million.
S&P full report can be accessed in the following link:Link to report