Social and Economic Stabilization Fund
|Chile||US$ 15.2 Billion|
(1987 Copper Stabilization Fund)
Transparency Rating: 10
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Firm Investment Style: Index
Entity Structure: Fund
Population Est.: 17.2 million – 2013
Wealth Per Capita Est.: $871
On March 6, 2007, the Economic and Social Stabilization Fund (ESSF) was created with an initial contribution of US$2.58 billion. It replaced the old Copper Stabilization Fund.
In 2007, the Chilean Government created the second fund, the Economic and Social Stabilization Fund (ESSF). This fund replaced the original Copper Stabilization Fund. It receives fiscal surpluses which are above 1% of GDP and came into existence with a one-off payment of approximately $5 billion (as a result of the closure of the original Copper Stabilization Fund. Through the ministry of finance of Chile, the financial committee proposed investment policy on the social and economic stabilization fund to the minister of finance during March of 2007. The investment strategy intends to diversify assets in the fund, putting 15% of the portfolio into variable income assets, 20% in corporate fixed income papers, gradually adjusting assets currently held, and especially liquid assets.
|Strategies and Objectives
SWFI Note: The Chilean sovereign wealth funds were historically aggregated into one profile.