Rentabilidad de los Fondos Mutuos en Chile 2006-2021
35 Pages Posted: 27 Dec 2022 Last revised: 29 Dec 2022
Date Written: November 30, 2022
The return after commissions of the Mutual Funds general series in Chile during the last 3, 5, 10, and 15 years has been (on average) lower than inflation and the return of 10-year bonds of the State (in CLP and inflation-indexed). Despite this, from 2006 to 2021, the assets under management grew by 42% (in real terms).
Of the 97 funds that were active throughout the 2006-2021 period, 11 delivered average annual nominal peso returns of more than 10% before commissions; none exceeded that figure after fees, and nine had negative returns after fees. Of the 179 funds active throughout the 2011-2021 period, 47 obtained average annual nominal returns of more than 10% before fees, and 14 had negative returns. After fees, the number of funds earning more than 10% returns falls to 18, while those with negative returns rise to 26.
The average annual commissions charged in this industry (weighted by managed capital) went from 1.6% in 2007 to 1.3% in 2021. The total real cost of commissions paid in 2007-2021 is equivalent to 19% of the total capital administered as of 12-31-2021.
Note: Downloadable document is in Spanish.
Keywords: Mutual Funds, Chile, Mutual Fund Performance
JEL Classification: G12, G31
Suggested Citation: Suggested Citation