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Corporate Structure / Subsidiary Companies |
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Banchile Administradora General de Fondos S.A. (Funds Administrators)
The year 2004 was one of great achievements for this subsidiary of Banco de Chile, reflected in its sustained market leadership which reached a share of 27.1% in funds managed and 27% by number of participants at December 2004, and also in the real increase of 53.6% in its profits compared to 2003, reaching Ch$ 9,081 million.
Several innovative products were launched during the year like the first guaranteed fund called “Banchile Garantizado Plus” and three new mutual funds in US dollars, thus consolidating the offer of foreign currency funds for assisting the diversification
of portfolios. Another guaranteed mutual fund was launched in December, with investments concentrated in the Japanese market.
At the end of the year, the company was managing 40 funds for a total amount of Ch$ 1,862,834 million, and serving 152,709 customers.
It also continued to work on levels of service quality, as is
reflected in the high degree of satisfaction of our customers,
and important communicational efforts were made to consolidate our positioning, successfully maintaining the customer loyalty plan. To achieve our goals with respect to
the customer base and quality of service, it has continued to
strengthen the joint work with the deposits area of Banco de
Chile, which will enable us to obtain even greater benefits from the branch network throughout the whole country.
An excellent level of satisfaction within our employees was also achieved. The executive training efforts, made jointly with Universidad Adolfo Ibáñez, successfully concluded with a certification for each executive as an Investment Adviser meeting high international standards. |
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