A different path to grow.

Moneda was founded in 1993 by three individuals in collaboration with the International Finance Corporation (part of the World Bank). Our investment philosophy is built upon fundamental analysis of companies with a long-term focus. Its first investments were in small- and mid-cap Chilean companies through its Pionero investment fund.

Moneda Asset Management was officially founded when the Pionero investment fund was launched in March 1994 with investments from the International Finance Corporation, institutional Chilean investors, and a number of individual investors. The fund launched with US$30 million in equity, and is focused on small- and mid-cap Chilean companies.  Today the fund is the largest in this asset class.

Always alert to its clients’ best investment options, Moneda decides to expand its focus from Chile to Latin America and becomes a regional asset manager, still with the same investment philosophy.

The Moneda Retorno Absoluto fund was launched in 2006, to provide investors a strategy to invest in specialized assets in Latin America. The fund focuses on special situations involving restructuring, mergers, and IPOs of Latin American companies.

After 12 years managing assets for institutional clients, Gestión de Inversiones is created, for the purposes of diversifying the client’s portfolio, and fortifying the relationships with high income clients. For this challenge we welcome Alfredo Reyes as a partner and manager of this area. That same year, Moneda Asset Management is established in New York, with an office that has a permanent team of 6 people.

The Moneda Latinoamérica Deuda Local fund was launched in November 2009 to provide investors throughout the world with access to a new asset class: Latin American corporate bonds denominated in local currency. It remains the only fund dedicated to this asset class.

A new Chilean stock investment fund, Moneda Renta Variable, was launched in 2011 to focusing on large cap companies in Chile. The strategy targets companies valued in top quartile of the stock market.  

In order to offer diversification to our clients, a strategic partnership begins with The Carlyle Group, one of the largest alternative asset managers in the world, with more than USD 225 billion under management and 35 offices around the globe. We launch our new investment strategy: high yield fixed income. Using Moneda Renta CLP Investment Fund, it seeks to obtain high returns in Chilean Pesos (CLP) by mainly investing its resources in debt instruments and fixed income, issued by local and/or foreign entities.

Moneda manages US$4.5 billion in assets, has 130 employees in Chile and the United States, and is Chile’s largest investment fund manager with a market share of over 33%, according to the Asociación de Administradora de Fondos de Inversión (ACAFI).

Two of Moneda’s minority shareholders, Consorcio Financiero S.A. and Inmobiliaria Estrella del Norte Limitada, terminated their ownership in Moneda Asset Management S.A. in June. This transaction left ownership of Moneda among its 10 executive partners.

Moneda Deuda Chile began operations in August. Two Luxembourg-based investment funds were also created: Latin American Corporate Credit and Latin America Equities, focusing on Latin American corporate debt instruments and Latin American equity instruments, respectively. 

In order to offer our investors access to global asset classes, from 2016 onwards we have launched five different funds investing in global equities in the United States and emerging markets, as well as other investing in international fixed income high yield or international fixed income investment grade.

Moneda Asset Management is the first Chilean asset manager to subscribe the Principles for Responsible Investment of the United Nations, which seeks to promote responsible and sustainable investments.

In June 2019, Moneda Asset Management, along with the Santiago Exchange, representatives of Pension Fund Administrators and fund managers, signed the Declaration for Responsible Investment.