Thursday, may 13, 2021

Ministry of Finance published the Sovereign Wealth Funds Annual Report

The Ministry of Finance published the 2020 Sovereign Wealth Fund Annual Report. The report describes the main aspects associated with the Funds’ investments, including a description of its institutional framework, policy, and results. In addition, the report contains the Funds’ financial statements, which are prepared by the General Treasury of the Republic and were audited by Crowe Auditores Consultores Limitada. 

The report highlights that, as of December 31, 2020, the Economic and Social Stabilization Fund and the Pension Reserve Fund together reached a market value of US $ 19,112 million, and that their net returns in dollars in said period were 8.03% and 9.26%, respectively. It also reports on the withdrawals made from both funds last year, which together amounted to US $ 5,666 million, resources that were used to support the financing needs of the Central Government and the Solidarity Pillar, according to the objectives defined for each fund. 

It is also noted that sovereign wealth funds continue to be managed according to very high standards of transparency, evidenced by the fact that the Funds have maintained the maximum score in the Linaburg-Maduell index since the third quarter of 2009, which measures the transparency of sovereign funds in the world. In turn, the Peterson Institute for International Economics, in its last evaluation of transparency and accountability carried out in February 2021, ranks the Economic and Social Stabilization Fund and the Pension Reserve Fund in fourth and eighth place, respectively, among 64 sovereign wealth funds.

The report is available (in Spanish) at the following link: https://www.hacienda.cl/areas-de-trabajo/finanzas-internacionales/fondos-soberanos/informe-anual/informe-anual-fondos-soberanos-2020

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