translated from Spanish: AFP scores record profits of $267 billion so far this 2019

AFP earnings in the first half of 2019 reached $267 billion, according to information reported by six managers to the Superintendency of Pensions. Comparing the number with profits in the same period of the previous year, the figure grew by more than 100 billion, with profits in the first half of 2018 reaching $144 billion. According to El Mercurio reports, one of the main reasons for this good performance is lace, which is that managers are required to invest 1% of their equity in the same way that they invest their affiliates’ funds. While AFP Capital achieved profits of $47 billion, which means a year-on-year hike of 64%, Cuprum had net profits of $40 billion. Provida made profits of $65 billion, doubling what was achieved in the same period last year. AFP Model in meantime, rented $22 billion. Finally, Habitat generated profits of $75 billion and Plan Vital reached $16 billion, which is eight times more than in the first half of 2018. It should be noted that in the latter case, it also affected the commission increase that the administrator applied in August last year.

Original source in Spanish