DCV promotes best practices in the industry
DCV HOLDS A ROUNDTABLE WITH ACAFI IN ORDER TO PROMOTE BEST PRACTICES FOR THE CUSTODY OF INVESTMENT FUND UNITS.
As the country’s custodian and key entity for the operation of the national financial market, the Depósito Central de Valores (DCV) constantly works in the development, implementation and promotion of best practices within the industry. On this occasion, along with the Asociación Chilena Administradoras de Fondos de Inversión (ACAFI), a roundtable was held in which nearly 45 executives from the principal associated fund managers sought to review some of the issues that will promote the best custody practices within the investment fund industry.
Some of the issues addressed at the roundtable were the alternative assets and investment models, the custody of national funds units for foreign investors, and DCV’s new special pledge.
Luis Alberto Letelier, President of ACAFI, stressed the relevance of moving forward on these issues so that no Chilean administrator has to manage funds abroad any longer. Accordingly, stressing that these funds must be managed from our country. On the other hand, Javier Jara, DCV’s Commercial and New Business Manager said that it is essential to provide a good custody service for the investment funds. Likewise, he appreciated the presence and participation of the industry’s stakeholders in this meeting.
"We created an ACAFI-DCV roundtable to continue advancing on these issues that will allow us to implement improvements in national and foreign custody services.” Jara said.