{"id":7162,"date":"2026-03-24T11:41:06","date_gmt":"2026-03-24T11:41:06","guid":{"rendered":"https:\/\/amicorp.com\/converting-a-fip-into-a-public-fund-to-open-up-retailization-growth-opportunities\/"},"modified":"2026-04-10T08:39:42","modified_gmt":"2026-04-10T08:39:42","slug":"converting-a-fip-into-a-public-fund-to-open-up-retailization-growth-opportunities","status":"publish","type":"post","link":"https:\/\/amicorp.com\/es\/converting-a-fip-into-a-public-fund-to-open-up-retailization-growth-opportunities\/","title":{"rendered":"Converting a FIP into a public fund to open up retailization growth opportunities"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row gap=\u00bb35&#8243; content_placement=\u00bbtop\u00bb css=\u00bb.vc_custom_1773225766897{margin-top: 0px !important;margin-bottom: 0px !important;border-color: #152968 !important;}\u00bb tablet_padding_left=\u00bb40&#8243; tablet_padding_right=\u00bb40&#8243; mobile_padding_left=\u00bb10&#8243; mobile_padding_right=\u00bb10&#8243;][vc_column][vc_empty_space height=\u00bb20px\u00bb][\/vc_column][\/vc_row][vc_row gap=\u00bb35&#8243; content_placement=\u00bbtop\u00bb css=\u00bb.vc_custom_1773225766897{margin-top: 0px !important;margin-bottom: 0px !important;border-color: #152968 !important;}\u00bb tablet_padding_left=\u00bb40&#8243; tablet_padding_right=\u00bb40&#8243; mobile_padding_left=\u00bb10&#8243; mobile_padding_right=\u00bb10&#8243;][vc_column width=\u00bb1\/3&#8243;]<div class=\"thegem-te-heading thegem-custom-69f7505949cf46632\" ><script type=\"text\/javascript\">(function() {function TheGemHeading() {this.animateClass = 'thegem-heading-animate';this.animatedClass = 'thegem-heading-animated';}TheGemHeading.prototype = {initialize: function () {let items =document.querySelectorAll('.'+this.animateClass);items.forEach((item)=>{if (this.isElementVisible(item)) {this.prepareAnimation(item);this.startAnimation(item);}});if ('ResizeObserver' in window) {const resizeObserver = new ResizeObserver((entries) => {entries.forEach((entry) => {this.prepareAnimation(entry.target);});});items.forEach((item) => {resizeObserver.observe(item);});}if ('IntersectionObserver' in window) {let intersectionObserver = new IntersectionObserver((entries)=>{entries.forEach((entry)=> {if (entry.isIntersecting) {this.startAnimation(entry.target);intersectionObserver.unobserve(entry.target);}});});items.forEach((item)=>{intersectionObserver.observe(item);this.prepareAnimation(item);});} else {items.forEach((item)=>{this.prepareAnimation(item);this.startAnimation(item);});}},isElementVisible: function (element) {let rect= element.getBoundingClientRect(),width= window.innerWidth || document.documentElement.clientWidth,height = window.innerHeight || document.documentElement.clientHeight,efp= (x, y) => document.elementFromPoint(x, y);if (rect.right < 0 || rect.bottom < 0 || rect.left > width || rect.top > height) return false;return (element.contains(efp(rect.left,rect.top)) ||element.contains(efp(rect.right, rect.top)) ||element.contains(efp(rect.right, rect.bottom)) ||element.contains(efp(rect.left,rect.bottom)));},startAnimation: function (element) {if (element && !element.classList.contains(this.animatedClass)) {element.classList.add(this.animatedClass);element.classList.remove(this.animateClass);element.dispatchEvent(new Event('theGemHeading.startAnimation', {bubbles: true}));}},prepareAnimation: function (element) {if (element\/* && !element.isPreparedAnimation*\/) {element.dispatchEvent(new Event('theGemHeading.prepareAnimation', {bubbles: true}));\/*element.isPreparedAnimation = true;*\/}}};window.theGemHeading = new TheGemHeading();document.addEventListener('DOMContentLoaded', function() {window.theGemHeading.initialize();});})();<\/script><div id=\"thegem-heading-69f7505949aa5\" class=\"thegem-heading thegem-custom-heading-69f7505949aa02444 title-h6 fade-lr thegem-heading-animate\" style=\"text-align: left;\" ><span class=\"colored\" style=\"color: #152968;\">Overview<\/span><\/div><style type=\"text\/css\">#thegem-heading-69f7505949aa5 {margin: 0;}#thegem-heading-69f7505949aa5 {max-width: 580px;}#thegem-heading-69f7505949aa5 a:hover, #thegem-heading-69f7505949aa5 a:hover span.colored {color: var(--thegem-to-menu-level1-color-hover, #00BCD4) !important;}<\/style><\/div><style>@media screen and (max-width: 1023px) {.thegem-heading.thegem-custom-heading-69f7505949aa02444{display: block!important;}}@media screen and (max-width: 767px) {.thegem-heading.thegem-custom-heading-69f7505949aa02444{display: block!important;}}@media screen and (max-width: 1023px) {.thegem-heading.thegem-custom-heading-69f7505949aa02444{position: relative !important;}}@media screen and (max-width: 767px) {.thegem-heading.thegem-custom-heading-69f7505949aa02444{position: relative !important;}}<\/style><div class=\"thegem-te-heading thegem-custom-69f7505949f5f7322\" ><h2 id=\"thegem-heading-69f7505949e23\" class=\"thegem-heading thegem-custom-heading-69f7505949e219891 title-h1 wpb_animate_when_almost_visible fadeIn wpb_fadeIn\" style=\"text-align: left;\" ><span>01<\/span><\/h2><style type=\"text\/css\">#thegem-heading-69f7505949e23 {margin: 0;}#thegem-heading-69f7505949e23 {-webkit-animation-delay: 700ms; -moz-animation-delay: 700ms; -o-animation-delay: 700ms; animation-delay: 700ms;}#thegem-heading-69f7505949e23:hover > span, #thegem-heading-69f7505949e23:hover > a, #thegem-heading-69f7505949e23:hover span.colored {color: #00000000 !important;}<\/style><\/div><style>@media screen and (max-width: 1023px) {.thegem-heading.thegem-custom-heading-69f7505949e219891{display: block!important;}}@media screen and (max-width: 767px) {.thegem-heading.thegem-custom-heading-69f7505949e219891{display: block!important;}}@media screen and (max-width: 1023px) {.thegem-heading.thegem-custom-heading-69f7505949e219891{position: relative !important;}}@media screen and (max-width: 767px) {.thegem-heading.thegem-custom-heading-69f7505949e219891{position: relative !important;}}<\/style>[\/vc_column][vc_column width=\u00bb2\/3&#8243;][vc_column_text css=\u00bb\u00bb]<\/p>\n<h2>An overview of Latin Trust\u2019s challenges<\/h2>\n<p>Latin Trust is a small wealth management company located in Chile, with a strong focus on creating and managing Private Investment Funds (\u00abFIPs\u00bb).<\/p>\n<p>FIPs are easy to incorporate and come with many benefits. But they also come with a few limitations, including a maximum limit of 49 investors and constraints on publicly marketing them as a collective investment vehicle. Furthermore, a tax reform proposal by the Chilean government at the time threatened to remove one of the benefits \u2013 a tax incentive that allows for a deferral on corporate tax (27%) at the Fund level, until the Fund distributes its assets to investors.[\/vc_column_text]<div class=\"gem-list gem-list-type-double-arrow\" ><ul>\n<li>Industry: <strong>Fund Services<\/strong><\/li>\n<li>Specialties: <strong>Managing and transforming investment vehicles<\/strong><\/li>\n<li>Location: <strong>Chile<\/strong><\/li>\n<\/ul>\n<\/div>[\/vc_column][\/vc_row][vc_row gap=\u00bb35&#8243; content_placement=\u00bbtop\u00bb css=\u00bb.vc_custom_1773225766897{margin-top: 0px !important;margin-bottom: 0px !important;border-color: #152968 !important;}\u00bb tablet_padding_left=\u00bb40&#8243; tablet_padding_right=\u00bb40&#8243; mobile_padding_left=\u00bb10&#8243; mobile_padding_right=\u00bb10&#8243;][vc_column][vc_separator color=\u00bbcustom\u00bb css=\u00bb\u00bb accent_color=\u00bb#152968&#8243;][\/vc_column][\/vc_row][vc_row gap=\u00bb35&#8243; content_placement=\u00bbtop\u00bb css=\u00bb.vc_custom_1773225766897{margin-top: 0px !important;margin-bottom: 0px !important;border-color: #152968 !important;}\u00bb tablet_padding_left=\u00bb40&#8243; tablet_padding_right=\u00bb40&#8243; mobile_padding_left=\u00bb10&#8243; mobile_padding_right=\u00bb10&#8243;][vc_column width=\u00bb1\/3&#8243;]<div class=\"thegem-te-heading thegem-custom-69f750594a1d49540\" ><div id=\"thegem-heading-69f750594a094\" class=\"thegem-heading thegem-custom-heading-69f750594a0933319 title-h6 fade-lr thegem-heading-animate\" style=\"text-align: left;\" ><span class=\"colored\" style=\"color: #152968;\">The problem statement<\/span><\/div><style type=\"text\/css\">#thegem-heading-69f750594a094 {margin: 0;}#thegem-heading-69f750594a094 {max-width: 580px;}#thegem-heading-69f750594a094 a:hover, #thegem-heading-69f750594a094 a:hover span.colored {color: var(--thegem-to-menu-level1-color-hover, #00BCD4) !important;}<\/style><\/div><style>@media screen and (max-width: 1023px) {.thegem-heading.thegem-custom-heading-69f750594a0933319{display: block!important;}}@media screen and (max-width: 767px) {.thegem-heading.thegem-custom-heading-69f750594a0933319{display: block!important;}}@media screen and (max-width: 1023px) {.thegem-heading.thegem-custom-heading-69f750594a0933319{position: relative !important;}}@media screen and (max-width: 767px) {.thegem-heading.thegem-custom-heading-69f750594a0933319{position: relative !important;}}<\/style><div class=\"thegem-te-heading thegem-custom-69f750594a3c27836\" ><h2 id=\"thegem-heading-69f750594a2a6\" class=\"thegem-heading thegem-custom-heading-69f750594a2a41986 title-h1 wpb_animate_when_almost_visible fadeIn wpb_fadeIn\" style=\"text-align: left;\" ><span>02<\/span><\/h2><style type=\"text\/css\">#thegem-heading-69f750594a2a6 {margin: 0;}#thegem-heading-69f750594a2a6 {-webkit-animation-delay: 700ms; -moz-animation-delay: 700ms; -o-animation-delay: 700ms; animation-delay: 700ms;}#thegem-heading-69f750594a2a6:hover > span, #thegem-heading-69f750594a2a6:hover > a, #thegem-heading-69f750594a2a6:hover span.colored {color: #00000000 !important;}<\/style><\/div><style>@media screen and (max-width: 1023px) {.thegem-heading.thegem-custom-heading-69f750594a2a41986{display: block!important;}}@media screen and (max-width: 767px) {.thegem-heading.thegem-custom-heading-69f750594a2a41986{display: block!important;}}@media screen and (max-width: 1023px) {.thegem-heading.thegem-custom-heading-69f750594a2a41986{position: relative !important;}}@media screen and (max-width: 767px) {.thegem-heading.thegem-custom-heading-69f750594a2a41986{position: relative !important;}}<\/style>[\/vc_column][vc_column width=\u00bb2\/3&#8243;][vc_column_text css=\u00bb\u00bb]<\/p>\n<h4>A potential barrier to AUM growth<\/h4>\n<p>Among their portfolio of private investment vehicles, the Latin Trust team was managing a small but highly active FIP, investing in transferable outstanding invoices issued by factoring companies registered in Chile. This FIP proved to be very successful, providing a greater short-term return on investment (ROI of 24.4%) than other collective investment vehicles in the market.<\/p>\n<p>Demand from new investors grew significantly as result, opening an attractive window of opportunity for Latin Trust to grow its assets under management (\u00abAUM\u00bb) through \u201cretailization\u201d &#8211; making investment funds more accessible and attractive to individual retail investors, rather than solely catering to sophisticated and institutional investors.<\/p>\n<p>However, with the restriction of 49 investors and the looming loss of its income tax deferral incentive, it was proving challenging for Latin Trust to take advantage of this opportunity.<\/p>\n<h2><\/h2>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row gap=\u00bb35&#8243; content_placement=\u00bbtop\u00bb css=\u00bb.vc_custom_1773225766897{margin-top: 0px !important;margin-bottom: 0px !important;border-color: #152968 !important;}\u00bb tablet_padding_left=\u00bb40&#8243; tablet_padding_right=\u00bb40&#8243; mobile_padding_left=\u00bb10&#8243; mobile_padding_right=\u00bb10&#8243;][vc_column][vc_separator color=\u00bbcustom\u00bb css=\u00bb\u00bb accent_color=\u00bb#152968&#8243;][\/vc_column][\/vc_row][vc_row gap=\u00bb35&#8243; content_placement=\u00bbtop\u00bb css=\u00bb.vc_custom_1773225766897{margin-top: 0px !important;margin-bottom: 0px !important;border-color: #152968 !important;}\u00bb tablet_padding_left=\u00bb40&#8243; tablet_padding_right=\u00bb40&#8243; mobile_padding_left=\u00bb10&#8243; mobile_padding_right=\u00bb10&#8243;][vc_column width=\u00bb1\/3&#8243;]<div class=\"thegem-te-heading thegem-custom-69f750594a59c143\" ><div id=\"thegem-heading-69f750594a47e\" class=\"thegem-heading thegem-custom-heading-69f750594a47d4827 title-h6 fade-lr thegem-heading-animate\" style=\"text-align: left;\" ><span class=\"colored\" style=\"color: #152968;\">Our approach<\/span><\/div><style type=\"text\/css\">#thegem-heading-69f750594a47e {margin: 0;}#thegem-heading-69f750594a47e {max-width: 580px;}#thegem-heading-69f750594a47e a:hover, #thegem-heading-69f750594a47e a:hover span.colored {color: var(--thegem-to-menu-level1-color-hover, #00BCD4) !important;}<\/style><\/div><style>@media screen and (max-width: 1023px) {.thegem-heading.thegem-custom-heading-69f750594a47d4827{display: block!important;}}@media screen and (max-width: 767px) {.thegem-heading.thegem-custom-heading-69f750594a47d4827{display: block!important;}}@media screen and (max-width: 1023px) {.thegem-heading.thegem-custom-heading-69f750594a47d4827{position: relative !important;}}@media screen and (max-width: 767px) {.thegem-heading.thegem-custom-heading-69f750594a47d4827{position: relative !important;}}<\/style><div class=\"thegem-te-heading thegem-custom-69f750594a7675578\" ><h2 id=\"thegem-heading-69f750594a643\" class=\"thegem-heading thegem-custom-heading-69f750594a6429558 title-h1 wpb_animate_when_almost_visible fadeIn wpb_fadeIn\" style=\"text-align: left;\" ><span>03<\/span><\/h2><style type=\"text\/css\">#thegem-heading-69f750594a643 {margin: 0;}#thegem-heading-69f750594a643 {-webkit-animation-delay: 700ms; -moz-animation-delay: 700ms; -o-animation-delay: 700ms; animation-delay: 700ms;}#thegem-heading-69f750594a643:hover > span, #thegem-heading-69f750594a643:hover > a, #thegem-heading-69f750594a643:hover span.colored {color: #00000000 !important;}<\/style><\/div><style>@media screen and (max-width: 1023px) {.thegem-heading.thegem-custom-heading-69f750594a6429558{display: block!important;}}@media screen and (max-width: 767px) {.thegem-heading.thegem-custom-heading-69f750594a6429558{display: block!important;}}@media screen and (max-width: 1023px) {.thegem-heading.thegem-custom-heading-69f750594a6429558{position: relative !important;}}@media screen and (max-width: 767px) {.thegem-heading.thegem-custom-heading-69f750594a6429558{position: relative !important;}}<\/style>[\/vc_column][vc_column width=\u00bb2\/3&#8243;][vc_column_text css=\u00bb\u00bb]<\/p>\n<h4>How did Amicorp help?<\/h4>\n<p>Chilean legislation allows for three types of funds: Mutual Funds, Public Funds (\u00abFIPUs\u00bb), and Private Investment Funds (\u00abFIPs\u00bb). Transforming a Private Fund to a Public Fund is also allowed under Chilean law, however, there are substantially more regulatory and operational requirements to run a Public Fund, and can only be managed and administrated by an Administradora General de Fondos (\u00abAGF\u00bb).<\/p>\n<p>As an AGF license holder, Amicorp helped Latin Trust transform this successful Private Fund into a Public Fund, a regulated collective investment vehicle with no restrictions on the number of investors and designed to be openly marketed to the public. On top of that, the Amicorp team listed the Fund&#8217;s shares (quotas) on the Chilean Stock Exchange, providing an additional option to meet demands from investors looking for liquidity, and playing a part in pushing forward the global trend towards the \u201cretailization\u201d of evergreen investment funds.<\/p>\n<p>If you would like to find out more about how we can support your fund structure, or our other fund administration services, please contact the team <a href=\"https:\/\/amicorp.com\/contact-us\/\">here<\/a>.[\/vc_column_text][vc_empty_space height=\u00bb20px\u00bb][vc_row_inner css=\u00bb.vc_custom_1774353743693{border-left-width: 1px !important;padding-left: 20px !important;border-left-style: solid !important;border-color: #152968 !important;}\u00bb][vc_column_inner width=\u00bb1\/3&#8243;][vc_column_text css=\u00bb\u00bb]<\/p>\n<div class=\"testimonial_author_info\">\n<h4><img class=\"alignnone size-full wp-image-5180\" src=\"https:\/\/amicorp.com\/wp-content\/uploads\/2026\/03\/rodrigo_oyarzun_59f560a956.png\" alt=\"\" width=\"80\" height=\"80\" \/><\/h4>\n<p><strong>Rodrigo Oyarz\u00fan<\/strong><br \/>\nLatin Trust<\/p>\n<\/div>\n<p>[\/vc_column_text][\/vc_column_inner][vc_column_inner width=\u00bb2\/3&#8243;][vc_column_text css=\u00bb\u00bb]<\/p>\n<h5>\u201cThis was an important deal for us to be able to open the fund up to a wider pool of investors to support its continuing growth. The Amicorp team was instrumental in making that happen and a pleasure to work with.\u201d<\/h5>\n<p>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row gap=\u00bb35&#8243; content_placement=\u00bbtop\u00bb css=\u00bb.vc_custom_1773225766897{margin-top: 0px !important;margin-bottom: 0px !important;border-color: #152968 !important;}\u00bb tablet_padding_left=\u00bb40&#8243; tablet_padding_right=\u00bb40&#8243; mobile_padding_left=\u00bb10&#8243; mobile_padding_right=\u00bb10&#8243;][vc_column][vc_empty_space height=\u00bb20px\u00bb][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>We are pleased to confirm that Amicorp has been recognized as a Multinational Member of The British-Kazakh Society (BKS) through 13 January 2027.<\/p>\n","protected":false},"author":2,"featured_media":7163,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"image","meta":{"footnotes":""},"categories":[45],"tags":[],"class_list":{"0":"post-7162","1":"post","2":"type-post","3":"status-publish","4":"format-image","5":"has-post-thumbnail","7":"category-caso-de-estudio","8":"post_format-post-format-image"},"menu_order":0,"_links":{"self":[{"href":"https:\/\/amicorp.com\/es\/wp-json\/wp\/v2\/posts\/7162","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amicorp.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amicorp.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amicorp.com\/es\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/amicorp.com\/es\/wp-json\/wp\/v2\/comments?post=7162"}],"version-history":[{"count":1,"href":"https:\/\/amicorp.com\/es\/wp-json\/wp\/v2\/posts\/7162\/revisions"}],"predecessor-version":[{"id":7165,"href":"https:\/\/amicorp.com\/es\/wp-json\/wp\/v2\/posts\/7162\/revisions\/7165"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amicorp.com\/es\/wp-json\/wp\/v2\/media\/7163"}],"wp:attachment":[{"href":"https:\/\/amicorp.com\/es\/wp-json\/wp\/v2\/media?parent=7162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amicorp.com\/es\/wp-json\/wp\/v2\/categories?post=7162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amicorp.com\/es\/wp-json\/wp\/v2\/tags?post=7162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}