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Chilean pension regulator approves sale of WisdomTree ETFs

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The Comisión Clasificadora de Riesgo, the Chilean pension funds investment regulator, has approved 34 exchange-traded funds from the WisdomTree Trust for sale to Chilean pension fun

The Comisión Clasificadora de Riesgo, the Chilean pension funds investment regulator, has approved 34 exchange-traded funds from the WisdomTree Trust for sale to Chilean pension funds, which hold some USD114bn in assets.

‘We are excited to branch out beyond the US and in particular to Chile,’ says WisdomTree chief executive Jonathan Steinberg. ‘ETFs have been well-received in Chile historically and we are seeing strong interest in WisdomTree’s fundamentally weighted approach to indexing.

‘The foreign investment limit for Chilean pension funds has recently been raised to 40 per cent of assets and WisdomTree’s extensive international ETF offering is now a way to gain such exposure.’

Bruce Lavine, WisdomTree’s president and chief operating officer, adds: ‘We see the popularity of ETFs continuing to spread overseas even beyond Europe and are encouraged by the growing demand from both retail and institutional investors.

‘Certainly foreign pension funds have accepted the notion that ETFs are valuable tools for gaining exposure to important asset classes and international markets. We believe WisdomTree’s highly diversified ETFs are well-suited for long-term investors and will continue make our funds available in these growing markets.’

WisdomTree, which is represented in Latin America by Andes Asset Management through a recently completed distribution agreement, has developed a family of fundamentally-weighted indexes and ETFs covering major markets in the US and abroad.

In contrast to capitalisation-weighted indices, the WisdomTree indices anchor the initial weights of individual stocks to a measure of fundamental value. WisdomTree launched its first ETF products in June 2006 and currently manages USD4bn in assets.

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