Ministers who follow the Valente doctrine and invest outside Chile



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This was before the question "Would you recommend to a Chilean investor to transfer a portion of your investment to Chile abroad as you have done?", That the Minister of Finance Economy responded with "definitely, yes". Expressions that provoked questions in the opposition and forced the public support of President Sebastián Piñera

"Do you know why? Because I believe that everyone, let's say, it is not healthy to put all the eggs in the same basket (…) as well as the pension funds, "added the minister about the convenience – according to him – to invest abroad

Indeed , José Ramón Valente is one of three state ministers who have investments abroad, and the only one who participates in a trading company in the United States, as he has declared in his statement of badets when he took office in March of this year.

Among the diversified portfolio of the Secretary of State abroad, his participation (without being a controller) is recorded in the company RXI registered in the United States, since February According to his declaration of equity, the present value or the book value of its holding equals US $ 29,329

At the same time, Valente also owns US $ 110,762 in a current account in dollars at Citibank.

In addition, it holds five instruments or securities tradable abroad, with different issuers in the United States, for a total of US $ 1,460,369 plus US $ 991,300. Meanwhile, there are no investments of this kind in Chile.

As the Minister of Economy, the Minister of Public Works, Juan Andrés Fontaine has nine investments in mutual funds in the United States. those that stand out are those held by Jp Morgan Emerging Markets Corporate (US $ 79,630), Larrain Vial Latin America High Yield (US $ 25,679), for a total of US $ 594,900. These payments of funds were acquired at different dates between July 2016 and July 2017.

In addition, the Minister of Sports Paulina Kantor holds an investment in Bank Julius Baer Group of Switzerland for $ 301,790 US, acquired in May 2013.

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