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First Trust boosts Chile presence through BCI alliance

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Exchange-traded fund (ETF) provider and asset manager First Trust Advisors has teamed with Chile’s third-largest privately owned bank, Banco de Credito e Inversiones (BCI), to market First Trust ETFs in Chile.

The ETFs provide an efficient way for Chilean investors to access the capital markets while diversifying risk with a product that generally involves lower costs than traditional mutual funds.
 
First Trust plans to work together with BCI to educate Chilean investors on the potential benefits that ETFs offer.
 
BCI, one of the largest financial corporations in Chile, was the first bank in Latin America to purchase a bank in the US. As a full wholesale bank, BCI has more than 75 years of history working closely with a wide range of clients, with a specific focus on corporations and institutional clients. Besides Chile, BCI has regional presence in Peru, Colombia and Mexico, and representation offices in China and Brazil.
 
“We are focused on building a team worthy of the clients we have the privilege of working with in Chile and across Latin America. We think we’ve taken the first step in building that team by collaborating with BCI in an effort to continue providing unique investment solutions and serving our clients in the days and years to come,” say Codie Sanchez-Baker, head of Latin America and US offshore distribution at First Trust.
 
First Trust first entered the Chilean market in 2014. The effort was further bolstered with the approval of two equity ETFs by the Chilean pension funds investment risk rating commission, La Comisión Clasificadora de Riesgo (CCR), in 2015 and the approval of an additional six equity ETFs this year.

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