The Financial Committee (FC) met for its sixth session of the year on November 8th, 2019 to review the progress of the sustainability study of the Pension Reserve Fund (PRF). This study must be commissioned every three years according to current legislation. The team of external experts responsible for carrying out the study is composed of Pablo Castañeda, Rubén Castro, Eduardo Fajnzylber and Juan Pablo Medina, and was selected by the Budget Office through a competitive selection process.
The consultants shared the preliminary results of the study, which has been carried out taking into account the current legal framework and does not include the pension initiatives currently being evaluated by the Government. After exchanging opinions, the FC thanked the work done by the consultants.
In addition, the Technical Secretariat informed Committee members on recent progress on the PRF’s new investment policy, specifically in relation to the currency overlay program and real estate investment.
Finally, FC members analyzed the results of the Sovereign Wealth Funds and of those in charge of their management, as well as the investment portfolios of the different asset classes relative to their benchmarks.
The FC -an external, independent committee- is made up of the following six experienced professional and experts: José De Gregorio (President), Cristián Eyzaguirre (Vice President), Ricardo Budinich, Jaime Casassus, Martín Costabal and Paulina Yazigi.