Las deudas en transparencia de la industria de fondos mutuos chilena

En Chile, la transparencia en la industria de fondos mutuos sigue siendo una deuda importante, lo que limita la competencia y lleva a costos elevados, especialmente para inversionistas menos sofisticados. A pesar de los avances regulatorios, la información sobre costos y comisiones no está disponible fácilmente, incluso para equipos con expertos en finanzas.

Consultado por El Mercurio Inversiones, Vito Sciaraffia, CEO de Altafid, comentó que no es fácil determinar cuantas comisiones pagan sus clientes por sus inversiones en administradas por instituciones chilenas: "tenemos un equipo con seis doctores en finanzas americanos y doce cientistas financieros, y diría que para entre el 20% y 30% de los casos no podemos encontrar los costos". Además, añadió que "a los clientes en Chile se les oculta el precio que pagan por muchos servicios financieros. Esto permite que se cobre más caro y que se entreguen servicios que no siempre están a la altura de lo que se ofrece en mercados desarrollados".

Segun Sciaraffia, un aspecto positivo en la industria son los cambios en regulación, que han llevado a que sea “relativamente fácil parar (fundar) una AGF". El regulador ha hecho un muy buen trabajo de incentivar a que entren competidores al mercado", agrega. "En México, por ejemplo, los procesos son eternos y de hecho, actualmente, no están emitiendo licencias para corredoras de bolsa".

Sin embargo, el espacio para mejoras regulatorias sigue siendo enorme: "En EE.UU., cuando hablas de los costos, se rige hasta el tamaño de letra. No puedo esconderlo en la fact sheet o folleto informativo. Además, no se puede poner el retorno de mi producto a no ser que ponga inmediatamente, con el mismo tamaño, cuánto rindió mi competencia. Tiene que estar pegado al retorno, igual que los costos".

Related authors: Vito Sciaraffia

Full article: https://www.elmercurio.com/Inversiones/Noticias/Analisis/2023/01/11/1019324/deudas-transparencia-industria-fondos-chilena.aspx

Media: El Mercurio Inversiones

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