No more competition? Super of Pensions gives the green light to the operation of a new AFP

Ad Portas of the government announcing the reform of the pension system, a new pension fund administrator could be added to the already existing six. And it is that the Superintendency of Pensions (SP) has given AFP UNO SA the provisional certificate of authorization to initiate legal incorporation procedures as a company.

The founding partner Ignacio Álvarez Avendaño, – known in the world of pension fund managers, as CEO of Cuprum – and the company Tanza SpA, who submitted the application on 3 July.

According to the regulations in force, at the date of issuance of the provisional certificate, the new company has a maximum period of 10 months to carry out the required procedures and ask the regulator to authorize the The existence of the new AFP, authorization needed to start operations.

As specified in the feasibility study, the new director has an initial capital of $ 4,800 million, divided into 480 million shares of the same series, registered shares without par value .

It also states that the provisional board of directors incorporated by Mario Ignacio Álvarez Avendaño, Jose Pedro Donoso Pinto, Sebastian Lira Cruz, Bernardita Piedrabuena Keymer and Felipe Eduardo Aldunate Anfossi. The last two as independent directors, who will have respectively substitute Verónica Mies Moreno and María Pía Aqueveque Jabbaz.

The main shareholders of Tanza SpA are Mario Ignacio Álvarez Avendaño, with 55% of the property, and Isabel Margarita Said Somavía, with 10%. The rest of the shareholders own less than 10% of the shares of the company.