Securities Review 2014 06-26-2015 - Santiago Exchange

Transcription

2014 Annual Report
SANTIAGO STOCK EXCHANGE
2014 Annual Report
TABLE OF CONTENTS
PAGE
4
Letter from
the Chairman
PAGE
8
PAGE
16
PAGE
24
INTRODUCTION
CORPORATE
GOVERNANCE
OUR
COMPANY
Vision, Mission
and Pillars
Board of
Directors
Achievements 2014
Profile
Management
History
Committees
Organizational
Structure
A Global Exchange
Committees
Central Counterparty
(CCLV)
2014 Annual Report
PAGE
42
PAGE
52
PAGE
62
PAGE
70
PAGE
90
PRODUCTS
AND SERVICES
OUR
BROKERS
COMMUNITY
RELATIONS
OUR ECONOMY
AND STOCK
MARKET IN 2014
MARKET
SNAPSHOT
From Routing to
Back Office
Technical Data
on Brokers
Investors
Education
The Economy
in Figures
Market Statistics
Our Associates
2014 Stock Market
Summary
Our Products
and Services
Issuers
05
2014 Annual Report
LETTER FROM THE CHAIRMAN
Santiago Stock Exchange experienced major
changes in 2014.
As chairman, I have worked closely with the
board of directors and management team to
address each of the challenges set for our organization from a foundation built on two pillars:
trust and transparency.
Both of these concepts will enable us to
properly lead our securities market into the
future.
The changes currently taking place in our society place growing demands on us.
Our mandate is to openly address these demands and adapt to an increasingly dynamic
market that requires us to constantly review
our processes to incorporate cutting-edge
technologies, integrate with other financial
markets, adopt international standards and
generate clear rules of self-regulation and
continuous improvement.
As an exchange, we have focused earnestly on
evaluating market operations and areas for improvement.
We view transparency and trust as fundamental
values that must prevail in our market and place
them at the core of everything we do. This focus
led to a joint effort to advocate for changes in the
operating rules for the equity market, enhance
conflict resolution mechanisms and contribute to
modernization and increased competition.
In this spirit, new regulations were submitted
to the Securities and Insurance Supervisor
(SVS) for approval in July as part of an effort
to increase competition and liquidity in equity
transactions within Santiago Stock Exchange
and enhance the price formation process.
These measures were drafted based on suggestions made by an ad hoc committee.
07
A ruling was also proposed to amend the Broker
Rights and Obligations Manual, which was
published for public consultation in late 2014
and submitted for SVS approval in January 2015.
The amendments comprehensively address
aspects related to the prevention and handling
of conflicts of interest involving brokers.
The proposed initiatives and changes represent
important progress in modernizing the
operating regulations of our equity market.
They also represent a major milestone in the
process of adopting international standards and
continuously adapting to the stock market’s
demanding conditions.
In a year in which traded volumes on the
domestic equity market hit their lowest point
since 2006, one of the major challenges has
been to strengthen the positioning of Santiago
Stock Exchange as an open market and a
gateway to the region for foreign investors, so
that, together with the active involvement of
domestic investors, we can contribute to the
growth of the Chilean capital market and the
strengthening of our economy.
The decision to attract new investors led to an
agreement with a subsidiary of Toronto Stock
Exchange, TSX Venture Exchange, to create
a venture market in Chile. This new market
facilitates the listing of mining companies,
particularly those in the exploration phase,
and start-ups in diverse industries (energy,
pharmaceuticals, electronics and IT, among
others), thus supporting innovation and the
development of new enterprise in our country.
Another major milestone was the Mexican
Stock Market’s entry into the Latin American
Integrated Market (MILA).
Its incorporation alongside the exchanges of
Colombia, Peru and Chile generates a point
of attraction for a larger number of foreign
investors to join this integrated platform, which
already boasts three years in operation.
On par with the development of our institution
and the securities market, we have set the
goal of staying at the forefront of technology,
incorporating
innovations,
systems
and
equipment similar to those used by the world’s
leading exchanges. As a result, today our
clients can manage their operations efficiently
using our fully automated, world-class online
platform.
In other matters, Santiago Stock Exchange
joined the Sustainable Stock Exchanges
(SSE) initiative, which was created in 2009
by the United Nations. It currently includes
16 exchanges, including New York, London,
Frankfurt, Johannesburg,
and Mexico City,
Colombia, Brazil and Lima within Latin America.
The organization is a peer-to-peer learning
platform for exploring how exchanges, in
collaboration with investors, regulators, and
companies, can enhance corporate transparency
and encourage responsible investment from an
environmental, social and corporate governance
perspective.
Similarly, in order to cultivate an environment
of socially responsible investment that is
sustainable over the long term based on the
increasingly demanding requirements of
investors and society in general, Santiago Stock
Exchange successfully concluded a private
bidding process to construct, implement and
market a new Sustainability Index.
2014 Annual Report
Through this index, Santiago Stock Exchange
aims to maintain its leadership in promoting
the incorporation of sustainable processes
and practices within companies listed on the
Chilean stock market, creating value for the
concept of sustainability, giving greater visibility
to companies that comply with applicable
international standards and providing additional
information to investors.
We are confident that the work we began in
2014 will enhance the reputation and transparency of the Chilean capital market in the
future and will increase the appeal of our exchange, contributing to its internationalization and growth and to the dynamism of the
stock market.
With this, we will help recognize the sustainability efforts of Chilean companies
and foster the commitment of locally listed companies with environmental, governance, social and corporate matters.
Sustainability, defined as a balance of economic,
social and environmental elements, cannot be
separated from success in business and will be
a driving force for its value in the future.
We believe it is important for stock exchanges
to make it a priority to increase the transparency
of listed companies and their commitment to
matters of environmental, social and corporate
governance while promoting awareness of these
issues. In this way, investors will have better
information on companies’ sustainability efforts
and will be able to make investment decisions
that are compatible with these concepts.
As such, Santiago Stock Exchange seeks
to make a decided contribution to market
development and the country’s prosperity. We
are conscious of our role as a public market and
our responsibility to optimize price formation
in our stock market, helping issuers obtain
financing, providing opportunities for investors
and enabling buyers and sellers to freely
trade financial instruments in a trusted and
transparent environment.
Juan Andrés Camus Camus
Chairman
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2014 Annual Report
OUR VISION
To be leaders in the securities
market, providing exceptional,
comprehensive service to all
customers.
OUR MISSION
To provide the best opportunities
offered by the securities market, thus
contributing to Chile's development.
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OUR PILLARS
TRUST
Acting in conformity with strict
ethical principles and meeting
commitments, establishing solid,
long-term relationships based on
transparency.
EXCELLENCE SERVICE
Promoting a customer-focused
organizational culture and always
providing the best service.
INNOVATION
Anticipating new challenges,
creating and developing the best
business opportunities.
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13
PROFILE
Founded in November 1893, Santiago Stock Exchange is a corporation
that provides infrastructure and value-added services for securities market transactions and develops regulations, systems and products to ensure an equitable, competitive, orderly and transparent market.
Considered the most important domestic exchange, its corporate objective is to contribute to the country's development through capital
markets with exceptional, comprehensive service, helping issuers access
different sources of funding, generating value for investors and enabling
intermediaries and clients to trade financial instruments in a trusted and
transparent environment.
Its main challenges center primarily on developing and strengthening the
securities market, integrating with international financial markets, incorporating new technologies and encouraging investor participation.
In addition to providing
exceptional, comprehensive
service to all customers,
Santiago Stock Exchange
promotes the country's
development and economic
growth through the securities
market.
2014 Annual Report
EXCELLENCE
SERVICE
15
Transactions
5,120,083
Total trades conducted within the
exchange and over-the-counter.
Uptime rate for services, the highest in
the exchange's history
Brokers and institutional customers; including
banks, pension fund administrators (AFP,s)
insurance companies, among others.
External customers, including holding companies,
family offices, international vendors, routing
networks, among others.
Percentage of transactions settled by the CCLV with 100%
effective compliance and 99.86% position compliance.
Total amount settled MCh$ 56,386,272
99.99%
103
200
100%
Best Practice Committee
Number of cases filed with Santiago Stock Exchange Best
Practice Committee by brokerage customers in 2014
Number of inquiries, incidents and requests received by the
customer service department in 2014 50.4% were resolved
satisfactorily within 10 minutes
3
14,650
Auditing and Control
Audits and other
reviews to brokers
110
Internal audits and other
reviews to Santiago stock
Exchange and CCLV
37
OUR HISTORY
Towards the end of the 19th century, the Chilean
economy showed signs of a formal business market with more than 160 corporations, but it lacked
vitality and dynamism. In response, on November
27, 1893, Santiago Stock Exchange was founded
in order to contribute to the economy, making
more funding available for emerging companies
that were looking to do business in Chile. Under
the chairmanship of Jorge Montt, a decree was
signed that established the entity’s by-laws with
initial capital of Ch$ 50,000.
Equity trading began with around 50 companies listed, mainly banks, mining, insurance, sodium nitrate mines and livestock companies.
With this, the exchange's spirit of resilience
emerged to contend with the complex scenario
affecting the domestic economy.
In early 1929, the securities market enjoyed a period of prosperity thanks to an economic boom in
Chile. These favorable conditions were repeated in
a large part of economies throughout the world.
However, this scenario changed for everyone in
October 1929. The so-called "black Thursday"
dealt a strong blow to the world's main stock markets, a precursor to an economic crisis that would
shake the entire world. By 1930, the fall in securities was global and Santiago Stock Exchange was
immersed in the depression that would impact
the domestic economy until 1932.
The period from 1930 to 1960 was unpromising
for stock trading. Lower expectations, accompanied by greater government intervention,
implied greater obstacles for free enterprise.
Thus, market activity became a reflection of the
smaller role of private initiative.
However, the ability to see opportunities among
these changes was always present. In 1944,
while World War II was still underway, gold coins
and dollars began to be traded, establishing a
fledgling business that would extend financial
tools for customers.
Shares in listed companies continued to be the
most traded instruments. For this reason, the
General Stock Price Index (IGPA) was created
in 1958 to reflect variations in all shares listed
on Santiago Stock Exchange. Almost 20 years
later, in 1977, a new index was needed: the Selective Stock Price Index (IPSA). This portfolio
consists of the 40 shares with the greatest market presence.
2014 Annual Report
In the 1980s, the local economy underwent profound changes that paved the way for a new
positive economic cycle. Accompanying this new
thrust, the use of cutting-edge technologies and
the automation of processes by the exchange
contributed to the stock market's strong development. Thus, explosive progress was seen, reflected in the substantial growth of market transactions and securities issuances, more diversified
instruments and new market openings.
In the 1990s, Chilean companies initiated the
process of accessing international markets by
issuing ADRs, allowing them to incorporate
foreign shareholders and obtain capital for expanding operations, located primarily in Latin
America. This was a sign of the market's maturity, coming full circle from those first steps
taken a century earlier with the trust of close to
50 companies.
Subsequent decades were marked by dramatic
technological innovation. These changes drove
Santiago Stock Exchange to increase the depth
of the securities market, adhering to the highest management standards in an increasingly
globalized world that forces it to operate hightech platforms and provide its customers with
exceptional service.
With more than 120 years in business, Santiago Stock Exchange continues to work to contribute to the country's development, helping
companies access financing, generating value
for shareholders and giving intermediaries and
customers the chance to trade financial instruments in a trusted and transparent environment.
SANTIAGO STOCK
EXCHANGE BUILDING
After four years of construction, the building
currently housing Santiago Stock Exchange
was inaugurated on December 25, 1917,
by Juan Luis Sanfuentes, the president of
Chile at that time. Designed by the FrancoChilean architect Emilio Jécquier, the
French renaissance-style building featuring
gothic structural elements was declared
a national historic monument in 1981.
17
SERVING THE
MARKET WITH
TRUST AND
TRANSPARENCY
CHAPTER ONE
CORPORATE GOVERNANCE
Corporate Governance
BOARD OF DIRECTORS
2/
1/
1 / Jaime
Larraín Vial
2 / Rodrigo
Manubens Moltedo
3/
3 / Óscar
Von Chrismar Carvajal
4/
4 / Hernán
Somerville Senn
5/
5 / Pedro
Salah Ahués
Director
Director
Director
Director
Director
Broker on Santiago Stock
Exchange since November
11, 1974. Partner of brokerage
house Jaime Larraín y Cía.,
Corredores de Bolsa Ltda.
Director of Santiago Stock
Exchange since April 2000.
Degree in business
administration from
Universidad Federico Santa
María and Universidad Adolfo
Ibáñez, Master of Science
from the London School of
Economics. Member of the
board of directors of Banco
de Chile. Chairman of
Banchile Seguros de Vida.
Director and chairman of
Directors’ Committee of
Aguas Andinas. Director of
since May 2013.
Degree in civil engineering
from Universidad de Santiago.
Vice chairman of Banco
Santander. Member of the
boards of Banco Santander in
Argentina and Peru. Director of
Santiago Stock Exchange since
April 2012.
Degree in law from
Universidad de Chile. Member
of the board of Enersis.
Former member of the board
of Inacap and former chairman
of Administrador Financiero
Transantiago. Director and
partner of Fintec Ltda. Director
of Santiago Stock Exchange
since April 2012.
Degrees in chemical engineering
and accounting from Pontificia
Universidad Católica. Founder
of Caja de Compensación La
Araucana. Former faculty at
Pontificia Universidad Católica de
Chile. Director of Santiago Stock
2014 Annual Report
6/
7/
6 / Eduardo
Muñoz Vivaldi
8/
7 / Juan Andrés
Camus Camus
9/
8 / Nicholas
Davis Lecaros
10 /
9 / Álvaro
Donoso Barros
21
11 /
10 / Juan Eduardo
Correa García
11 / Fernando
Larraín Cruzat
Vice Chairman
Chairman
Director
Director
Director
Director
Degree in industrial engineering
from Universidad de Chile.
Since 1990, founding partner
and chairman of brokerage
house Negocios y Valores S.A.,
Corredores de Bolsa. Before
that, he was CEO of Financiera
Tasco S.A. (subsidiary of Soc.
El Tattersall S.A.), manager
of Inversiones Especializadas
S.A. INVESSA), CFO of Banco
de Constitución, Finance and
International Division Manager
and Planning Manager at Banco
de A. Edwards and partner of
brokerage house Raimundo
Serrano McAuliffe y Cía. Ltda.,
Corredores de Bolsa, until 1990.
Degree in business
administration from Pontificia
Universidad Católica de Chile.
Founding partner and CEO
of Celfin Capital from 1988
to 2007. Chairman of Celfin
Capital until November 2012.
Currently, he is the chairman
of BTG Pactual Chile, which
merged with Celfin Capital
in 2012. He has 35 years'
experience in commercial
and investment banking. He
is currently the chairman of
Santiago Stock Exchange and
a member of the executive
board of CEP.
Chairman of EuroAmerica
S.A., EuroAmerica Seguros
de Vida S.A., EuroAmerica
Administradora General
de Fondos S.A. and
EuroAmerica Servicios
Financieros S.A. Director of
since April 2012.
Degree in business
administration from
Pontificia Universidad
Católica and a Master
in Economics from the
University of Chicago. He
is a member of the board
of CorpResearch. Before
that, he was the director
of the International
Monetary Fund and the
Chilean National Planning
Office (Odeplan). He was
a board member at the
Institute of Economics
at Universidad Católica
de Chile. He has been a
professor and director of
several companies from
the financial and pension
industries. Director of
since April 2014.
Degree in industrial
engineering from Pontificia
Universidad Católica de
Chile. Vice chairman of
Banco Bice, chairman of
Bice Vida Compañía de
Seguros S.A., chairman
of Bice Hipotecaria S.A.,
CEO of Bicecorp S.A. and
director of Colbún S.A.
Exchange since 2012.
Degree in business
administration from
Universidad Católica de Chile
and an MBA from Harvard
Business School. Executive
chairman of LarrainVial
S.A., parent company of the
Larraín Víal group companies,
and chairman of LarrainVial
Sociedad Administradora
de Fondos de Inversión
(SAFI) Perú. Member of the
boards of Watt’s, Activa SPA
and Fundación Las Rosas.
CORPORATE GOVERNANCE
MANAGEMENT
1/
2/
3/
1 / Patricio
Rojas Sharovsky
2 / Nicolás
Almazán Barros
3 / Andrés
Araya Falcone
Chief Financial Officer
Chief Planning and Development Officer
Chief Information Officer
“The exchange's ability to lead
and develop the stock market has
been possible thanks to the quality
of its human capital and efficient
resource management. We have
focused on building the skills of our
multidisciplinary teams and sharpening
expense control and investments in
order to improve financial results
and ratios and add value for our
shareholders.”
“In line with our ongoing concern
to offer new and better investment
alternatives, MILA consolidated
its position as a regional model by
incorporating the Mexican stock market.
We also became an official member
of the Sustainable Stock Exchanges
Initiative, created by the UN. This select
group of 16 exchanges reflects our
interest in adopting international best
practices on these matters.”
“With a focus on the security and
availability of our services, we recorded
the highest uptime rate in the history of
Santiago Stock Exchange with 99.99%
system effectiveness. This effort was
complemented by our certification
under ISO 27,001 for information
security management and ISO 22,301 for
business continuity.”
Degree in industrial engineering and MBA
from Pontificia Universidad Católica de
Chile. He joined Santiago Stock Exchange
in September 1997. Chief Financial Officer
since August 2009.
Degree in business administration from
Universidad de Chile and Master in
Financial Management from Universidad
Adolfo Ibáñez. He joined Santiago
Stock Exchange in June 2004. Chief
Planning and Development Officer since
November 2013.
Degree in IT engineering from
Universidad Diego Portales and MBA
from Pontificia Universidad Católica de
Chile. He joined Santiago Stock Exchange
in January 1988. Chief Information Officer
since April 1998.
2014 Annual Report
4/
5/
23
6/
4 / José Antonio
Martínez Zugarramurdi
5 / Juan
Ponce Hidalgo
6 / Carlos
Niedbalski Chacón
Chief Executive Officer
Chief Operating Officer
Chief Audit and Control Officer
“We are aware that the market's
challenges are multiple and ongoing.
During 2014, we have made progress
on an important set of initiatives for
investors, issuers and intermediaries,
always striving to ensure a sound,
reliable and transparent securities
market. In each of our projects we aim
to generate sustainable value for all
shareholders and our stakeholders, with
a long-term vision for the stock market's
development.”
“We have made strides to enhance
the equity market's operating
regulations by submitting a proposal
to the regulator that incorporates new
international practices to generate
greater liquidity and competition, thus
benefitting price formation.”
“We improved our external and
internal control systems. We created
the Financial Analysis and Intelligence
Area to detect and anticipate risky
situations involving brokers, customers
and the market; implemented a new
surprise inspection program for brokers;
strengthened compliance procedures
and incorporated new technology to
safeguard information.”
Degree in industrial engineering from
Universidad de Chile and Master in
Business Law from Universidad Adolfo
Ibáñez. He joined Santiago Stock
Exchange in May 1984. Chief Executive
Officer since September 1998.
Degree in financial engineering from
Universidad Diego Portales. He joined
Santiago Stock Exchange in July 1976.
Chief Operating Officer since July
1995.
Degree in business administration from
Universidad de Santiago, degree in
accounting from Universidad de Chile and
Master of Business Administration from
Pontificia Universidad Católica de Chile.
He joined Santiago Stock Exchange in
February 1990. Chief Audit and Control
Officer since January 2012.
HONORARY CHAIRMAN AND
HONORARY MEMBERS
Honorary Chairman
The distinction of Honorary Member is a long-standing tradition in Santiago Stock Exchange, reserved for a select number
of individuals. It is granted to those who, after a long time with
the institution, have attained sufficient merit to qualify for the
recognition and gratitude of the stockholders and brokers as
the result of the meritorious and selfless work, benefitting the
institution and the brokers profession.
Honory Members
The title of Honorary Chairman was instituted in January 1989
and, for the first time in the history of the institution, it was conferred to one of its most outstanding members, that is, a person
who was a particularly successful and dedicated Chairman of
Santiago Stock Exchange for more than twenty one years.
• Luis Lira Montt
• Eugenio Blanco Ruiz
• Daniel Covarrubias Ortúzar
• Gustavo de la Cerda Acuña
• Tomás Hatton Aguirre
• Alberto Le Blanc Donaldson
• Manuel José Ureta Mackenna
• Pablo Yrarrázaval de Tezanos Pinto
OUR COMMITTEES
BEST PRACTICE COMMITTEE
BUSINESS AND TECHNOLOGY COMMITTEE
STANDING MEMBERS
ALTERNATES
STANDING MEMBERS
• Juan Eduardo Correa García
• Enrique Barros Bourie
• Nicholas Davis Lecaros
• Henry Comber Sigall
• Lisandro Serrano Spoerer
• Fernando Larraín Cruzat
• Claudio Larraín Kaplan
• Jorge Tarzijan Martabit
• Hernán Somerville Senn
• Matías Repetto Vergara
ALTERNATES
• Óscar von Chrismar Carvajal
• Pablo Valenzuela Mardones
REGULATIONS, RISK AND AUDIT COMMITTEE
STANDING MEMBERS
ALTERNATES
• Jorge Jaramillo Selman
ETHICS AND DISCIPLINE
COMMITTEE
STANDING MEMBERS
• Álvaro Donoso Barros
• Jaime Larraín Vial
• Jaime Larraín Concha
• Rodrigo Manubens Moltedo
• Gonzalo Jiménez Parada
• Patricio Parodi Gil
• Juan Pablo Ugarte Valdés
• Eduardo Muñoz Vivaldi
ALTERNATES
• Pedro Salah Ahués
• Marcos Comparini Fontecilla
• José Luis de la Rosa Muñoz
• Gonzalo van Wersch Calderón
Members in effect as of December 31, 2014.
2014 Annual Report
ORGANIZATIONAL
STRUCTURE
Board of Directors
BEST PRACTICE
COMMITTEE
COMMITTEE
BUSINESS AND TECHNOLOGY
COMMITTEE
CHIEF AUDIT AND
CONTROL OFFICER
REGULATIONS, RISK AND
AUDIT COMMITTEE
CHIEF EXECUTIVE
OFFICER
CHIEF FINANCIAL OFFICER
CHIEF INFORMATION OFFICER
CHIEF OPERATING OFFICER
LEGAL COUNSEL
CHIEF PLANNING AND
DEVELOPMENT OFFICER
25
CONNECTED
WITH THE
PRESENT TO
BUILD THE
FUTURE
CHAPTER TWO
OUR COMPANY
2014 HIGHLIGHTS
Santiago Stock Exchange set several priorities for 2014, including placing greater emphasis on the transparency with which the Chilean securities market operates, remaining at the forefront of changes in technology and developing new products and services for investors, issuers and intermediaries.
Creating a
Sustainability Index
Early in 2014, Santiago Stock Exchange hired
an external consultant to perform a feasibility
study on the creation of a Sustainability Index.
Then, the Board of Directors agreed in October
to launch a bidding process for the construction, implementation and marketing of this new
indicator.
MSCI ESG Research, a specialist in calculating
stock indexes with vast experience developing
international methodologies, performed an indepth analysis and assessment of data on the
local market and issuers. The firm concluded
that Chile has critical mass and meets all necessary conditions for creating a Sustainability
Index made up of companies listed on Santiago
Stock Exchange.
The new Sustainability Index and the related
brand will be owned by Santiago Stock Exchange and will complement the exchange's
family of indexes, which includes the IGPA,
IPSA, INTER-10, cap-weighted indexes and sector indexes.
This new indicator will help make the sustainability levels of Chilean companies, measured
using international standards, more visible.
This initiative aims to help establish an environment of socially responsible investment that is
sustainable in the long term, in accordance with
the increasingly demanding requirements of society and investors specialized in such matters.
Through this index, Santiago Stock Exchange
aspires to maintain its leadership in promoting
responsible investment. It also aims to create financial incentives for incorporating sustainable
processes into the practices of companies listed
on the Chilean market, thus helping create value
for companies.
2014 Annual Report
Agreement with Toronto
Stock Exchange:
Venture Market
Santiago Stock Exchange signed an important
agreement in March with TSX Venture Exchange
(TSXV), a subsidiary of the Toronto Stock Exchange, to implement an operating model to
create a new venture market in Chile, focused
on capital financing for companies in early development phases. This agreement will leverage
TSXV's experience on the matters and will also
provide issuers listed on that exchange the possibility of double listings in the new market.
Initially, the activities of Santiago Stock Exchange in this market will center around obtaining capital for small and medium-sized
companies from the mining industry, which
will help strengthen the bond between the
industry and the Chilean capital market. This
agreement marks an important milestone for
Santiago Stock Exchange. By leading this
process, the exchange will both boost the
mining sector's visibility on the local market and demonstrate its own capacity to
implement innovative strategies in partnership with international exchanges.
A Derivatives Market
for Chile
The derivatives market is a joint initiative
involving Santiago Stock Exchange and its
clearing house subsidiary, CCLV Contraparte Central S.A., in strategic partnership with
BM&FBovespa. The objective of this initiative is to provide the domestic capital market with an institutional regulatory framework
and technology for trading, clearing and settling derivative instruments through the stock
market.
Thanks to the addition of the derivatives market, the financial market in general (intermediaries, banks, institutional and private inves-
tors, both local and foreign) can trade futures
market instruments directly in the Telepregón HT
system, the platform also used for trading equity
instruments as well as securities on MILA, the integrated market.
As of year-end 2014, Santiago Stock Exchange and CCLV were awaiting SVS approval of the General Regulations for Futures Markets in order to schedule and announce the
launch of Santiago Derivatives Market.
29
A NEW CHAIRMAN FOR
Santiago STOCK EXCHANGE
In April, the directors of Santiago Stock Exchange elected Juan Andrés Camus chairman of the board. Mr. Camus holds a degree
in business administration from Universidad
Católica de Chile. He takes the place of Pablo
Yrarrázaval, who decided not to run for reelection after leading the institution for 25 years.
Eduardo Muñoz was elected vice chairman.
In line with the challenges posed by the securities market in an increasingly interconnected
world with exacting audiences, Mr. Camus's
first eight months at the institution's helm
have been dedicated to increasing financial
system transparency, improving competition
and continuing to adopt international best
practices, both for operating processes and
securities intermediaries.
MEXICAN EXCHANGE
JOINS MILA
At a meeting of the Executive Committee of the
Latin American Integrated Market (MILA), held
June 4, 2014, the Mexican Stock Market and Indeval officially announced to the Chilean, Colombian and Peruvian exchanges their intention
to join MILA. They were officially incorporated
on December 1, 2014. As a result, the Mexican
market comes together with Santiago, Colombian and Lima stock exchanges to form one of
the most attractive markets in the region.
MILA is an integration platform that aims to
strengthen the financial business of its member
exchanges, accompanying companies and local
intermediaries in their regional expansion processes. The union of these four markets will help
boost Latin America's international reputation
and attract a larger number of foreign investors,
among other benefits.
2014 Annual Report
31
MODERNIZING PROTRANSPARENCY MARKET
REGULATIONS
The Board of Directors approved new comprehensive proposed regulation related to
preventing and handling broker conflicts of interest; incorporating guidelines on broker relations with investors defined as unqualified and
including a set of mandatory compliance standards for brokers that have been issued by the
exchange through rulings, internal communications and recommendations from the Best
Practice Committee. The initiative also involves current regulations not included in the
Broker Rights and Obligations Manual, current
mandatory recommendations that have become regulatory requirements and updates to
the aforementioned manual. The project was
submitted for SVS approval in January 2015.
aim to increase competition and liquidity in equity
transactions within the exchange, as well as improve
price formation. The measures mark an important
milestone in the process of integrating international
standards and are suitable for current stock market
conditions.
This is in addition to other pro-transparency
activities conducted in 2014 and the Regulatory Ruling project, which was submitted for
SVS approval and marks important progress in
the process to modernize the operating regulations for our equity market. The regulations
JOINS SUSTAINABLE STOCK
EXCHANGE INITIATIVE (SSE)
The Board of Directors of Santiago Stock Exchange approved the entity's incorporation into
the Sustainable Stock Exchanges Initiative (SSE)
created in 2009 by the United Nations. This initiative already includes the stock markets of New
York, London, Frankfort and Johannesburg, as
well as regional exchanges such as Mexico, Colombia, Brazil and Lima.
The decision to join the SSE is in line with efforts
by Santiago Stock Exchange to promote matters
of sustainability and transparency in the financial system, aimed at adopting international best
practices on such issues.
The exchange was accepted by the SSE and became an official member in early December 2014.
PARTNERSHIP WITH
TRANSPARENCY COUNCIL
In line with the exchange's concern for improving the quality of individuals' investment decisions, Chairman Juan Andrés Camus and the
Chairwomen of the Transparency Council, Vivianne Blanlot, signed a collaboration agreement
for these institutions to work together to implement activities to strengthen practices involving
transparency and access to market information.
This agreement will help expand the awareness
and validity of the transparency principle for
users of information from Santiago Stock Exchange, its intermediaries and listed companies;
broaden access to information by sectors of
the population that are generally removed from
securities market practices and develop mechanisms to access information, receive feedback
and encourage citizen participation that enable
us to identify new information needs.
TRADING, SETTLEMENT
AND CUSTODY OF
FOREIGN SECURITIES IN
LOCAL CURRENCY
As of the first business day in December,
Santiago Stock Exchange, CCLV and the Central
Securities Deposit (DCV) began trading and
settling foreign securities in local currency for
the purposes of offering them publicly in Chile
and providing local custody services for these
instruments. This was made possible thanks
to the Chilean Central Bank's approval of that
standard in April 2014.
This initiative, which allows shares of mutual
funds and exchange traded funds (ETF) and
foreign equities to be traded in local currency,
simplifies trading and settlement and allows for
better monitoring of these securities by investors. It also increases investment alternatives
and opportunities in the local market, making
the market more attractive and contributing to
its growth and development.
2014 Annual Report
33
AND CCLV OBTAIN ISO 27,001
CERTIFICATION AND MOVE
FORWARD ON ISO 22,301
After more than a year of work, Santiago Stock
Exchange and its subsidiary CCLV Contraparte
Central S.A. obtained ISO 27,001 certification
(2013 version), from the British Standards Institution (BSI), a world leader in corporate standards. This certification guarantees the security
of all services to the public.
The exchange also made strides on certification
under ISO 22,301 (2012 version), which ensures
that the entity is prepared to continue operating and fulfilling internal and regulatory requirements as well as customer requests even in difficult or unexpected circumstances.
Both certifications apply to the ongoing development, support and maintenance of the software and technology platforms that support
the four business units within Santiago Stock
Exchange: Electronic Trading, Market Systems,
Integrated Broker Management Systems and
Financial Instrument Clearing and Settlement
Systems provided by the CCLV.
IMPROVING THE CUSTOMER
EXPERIENCE
The foundations of Santiago Stock Exchange's
Customer Service Strategy developed in 2014
are efficient resolution, timely reporting and
high quality standards. In order to co-design
the ideal customer experience and draft an
implementation plan, the exchange organized
four practical workshops bringing together
managers, deputy managers and representatives from customer service channels to analyze opportunities for improvement using the
Lego Serious Play methodology.
As a result of these workshops, 10 projects
were designed that are intended to improve
the service experience of our customers with
a focus on the process of seeking help and
resolving problems.
In order to follow up on these projects and
continue co-creating innovative customer
service projects with associates, the Innovation and Experience Committee was created,
made up of individuals from different areas
within the exchange.
A GLOBAL EXCHANGE
An International Reach: Moving Forward with a Multi-market Exchange.
In its concern for providing the best securities market opportunities, Santiago Stock Exchange has strengthened several initiatives to position itself internationally.
In 2014 it continued its strategy to develop new investment instruments,
open markets and incorporate international best practices in order to increase competition and expand the opportunities on and appeal of the domestic market for issuers, intermediaries and local and foreign investors.
The bet placed on the exchange's international expansion has become an
important pillar of growth, as well as a major contribution to the country's development.
2014 Annual Report
MILA, Transforming the
Region into an Important
Investment Hub
The Latin American Integrated Market (MILA)
was conceived as a project to integrate the exchanges and security depositories in Chile, Peru
and Colombia in order to give these markets
greater exposure. The initiative has gained the
attention of the international financial community, becoming an attractive hub for investment
in Latin America.
In 2014, just three years after being launched,
MILA consolidated its position as a regional
model by incorporating the Mexican securities market. This will allow for greater diversification and depth, delivering additional
investment alternatives, in terms of both the
number of issuers and the diversification of
markets and sectors. Thanks to this addition,
MILA boasts the largest number of listed companies among markets in the region and an
important regional presence.
As a result of this progress, MILA continued to
work to harmonize market regulations, clearing and settlement rules, and tax and foreign
exchange issues under the Pacific Alliance. In
order to increase market depth, new types of
instruments were included such as investment
fund shares and ETFs, and international custody services were added. Foreign investors
began to participate in MILA IPOs in Chile and
projects were launched to reinforce settlement processes.
To date, six investment funds have been developed that track and monitor the MILA. There
are also two sector indices (S&P MILA Financials and S&P MILA Resources) and a special
index (S&P MILA 40), all of which testify to
the importance of and interest in this investment alternative.
Mutual
funds
that track
MILA
6
MILA was created in 2011 as
a project to integrate the
exchanges and security
depositories in Chile, Peru and
Colombia in order to give these
markets greater exposure.
Mexico joined in 2014.
35
MILA INDICES
115
110
105
100
95
90
85
80
ene
feb
mar
abr
may
jun
jul
ago
sep
IPSA (Chile)
oct
nov
dic
Note: Return basis of 100 as of January 1, 2014.
COLCAP (Colombia)
IPC (Mexico)
IGBVL (Peru)
SPMILA
Most traded stocks on MILA markets (MUS$)
45.000
40.000
35.000
30.000
25.000
20.000
15.000
10.000
Source: MILA News.
TLEVISA-CPO
ALFA-A
FEMSA-UBD
GMÉXICO-COB
FUNO-11
CEMEX-CPO
WALMEX-V
GFNORTE-O
AMX-L
NAFTRAC-ISHRS
5.000
2014 Annual Report
37
Total traded volume in MILA markets 2014
$ 33,668
Chile
$ 23,938
Colombia
$ 3,848
$ 185,139
Peru
Mexico
Note: Figures expressed in MUS$
Source: MILA News.
MILA Information
Country
GDP 2013
MUS$
GDP Growth
(2013)
Population
(2013)
Traded Volume
- Equity Market (MUS$)
Market
Capitalization
(MUS$)
No. of
Equity
Issuers
New Equity
Issuances
(MUS$)
Market
Capitalization
/ GDP
Chile
277,199
4.1%
17,619,708
28,834
233,245
307
N/A
0.84
Peru
202,350
5.8%
30,375,603
3,818
78,840
263
0
0.39
378,415
4.7%
48,321,405
24,490
146,746
74
1,823
0.39
Colombia
Mexico
1,260,915
1.1%
122,332,399
156,574
480,245
147
285
0.38
MILA
2,118,879
5.1%
218,649,115
213,716
939,076
738
2,108
0.44
Source: World Federation of Exchanges, World Bank.
Intermediaries with
active agreements
with MILA as of
December 31, 2014.
48
Santiago Venture Market:
NEW OPPORTUNITIES OF
FINANCING AND INVESTMENT
The Venture Market offers a new segment within Santiago Stock Exchange, intended to open
up and develop the capital market for companies that are in an early stage process of growth,
providing them with the opportunity to finance
their projects.
After signing an agreement in 2012, the collaborative effort of Santiago Stock Exchange
and Toronto Stock Echange hopes to leverage
the successful experience of Toronto Stock Exchange, in particular its TSX Venture Exchange,
which specializes in companies that are still at
a natural resource exploration phase. Santiago
Stock Exchange aspires to replicate its business
model and adapt it to the Chilean market.
Initially the focus will be on raising capital for
small and medium mining enterprises (SMEs),
which will strengthen and create a solid bond
between mining and the Chilean capital market.
Subsequently, the initiative will seek to extend
to other industrial sectors.
Based on projections, the venture market will
be inaugurated in early 2015. This launch will
make venture capital alternatives available that
facilitate the listing of mining companies in the
exploration phase.
Santiago Stock Exchange's
ally in developing the
venture market, TSX Venture
Exchange, is the world leader
in financing mining projects,
supported by a substantial
base of junior companies and
a large number of investors
who participate in this market.
The collaboration with the Canadian market is
designed to provide the exchange with a highly specialized strategic partner to address the
challenge of providing financing to mining companies in the exploration phase and to help develop this market in our country alongside the
diverse market participants: intermediaries, attorneys, analysts, institutional investors, private
investors, regulators and suppliers of market
infrastructure such as the exchange itself, the
depositary institution and the clearing and settlement subsidiary.
2014 Annual Report
The Canadian market is currently the world
leader in financing mining projects, supported
by a substantial base of junior companies and
a large number of investors who participate in
this market.
In leading mining countries, junior mining companies represent between 50% and 60% of total
exploration investment. That figure is less than
20% in Chile. Therefore, the Chilean market has
significant growth potential.
In Search of
Sustainable Industry
In line with the work by Santiago Stock Exchange on matters involving the sustainability
and transparency of the financial system, in 2014
the exchange officially joined the Sustainable
Stock Exchanges Initiative (SSE). This initiative,
created in 2009 by the United Nations, brings
together 16 major exchanges including New
York, London, Frankfort and Johannesburg.
The SSE is a peer-to-peer learning platform
for exploring how exchanges, in collaboration
with investors, regulators, and companies, can
enhance corporate transparency—and ultimately performance—on ESG (environmental,
social and corporate governance) issues and
encourage responsible, long-term investment
approaches.
Along with the commitment made with the
SSE to foster sustainable investments in the
Chilean market, Santiago Stock Exchange
launched a bidding process in 2014 to construct, implement and market a new Sustainability Index. The most important international
suppliers of market indexes submitted bids in
order to ensure a thorough perspective of local market issuers.
Connected to the World
In its search to incorporate best practices and
standardize market regulations, Santiago Stock
Exchange is a member of the World Federation
of Exchanges (WFE). This trade association of
64 regulated exchanges works to ensure that
the financial world is working properly. Participation in this group has enabled Santiago Stock
Exchange to incorporate world-class practices
and has even laid the foundation for new products such as the Venture Market, set to launch
in March 2015.
On a regional level, the exchange is a member
of the Ibero-American Federation of Exchanges
(FIAB). José Antonio Martínez, CEO of Santiago
Stock Exchange, is the organization's vice chairman. As a result of this association, the industry has collaborated to harmonize regulations
following financial market integration and has
sponsored several studies to foster the development of new securities markets. The first steps
to form the Latin American Integrated Market
(MILA) also took place here.
In its search to incorporate
best practices and standardize
market regulations, Santiago
Stock Exchange is a member
of the World Federation
of Exchanges (WFE) and the
Iberoamerican Federation of
Exchanges (FIAB). This trade
association of 64 regulated
exchanges works to ensure
that the financial world is
working properly.
39
COMMITTEES
BUSINESS AND TECHNOLOGY
COMMITTEE
This committee is responsible for evaluating and
proposing measures regarding Santiago Stock Exchange's operations, business development and
use of technology.
ACCOMPLISHMENTS IN 2014:
Technology Upgrades
and New Indicators
Upgrading SEBRA Capital System
In the quest to provide our customers with
high-quality services, Santiago Stock Exchange
launched a project to upgrade the SEBRA Capital System, which is used by intermediaries. The
initiative, which involves an investment of UF
82,000 over a three-year period, will bring the
system up to world-class standards. The committee closely monitored the entire upgrading
process.
Sustainability Index
During 2014, the Business and Technology
Committee was entrusted with the task of evaluating the feasibility of a Sustainability Index for
Santiago Stock Exchange. After hiring MSCI to
conduct a feasibility study, which determined
the project was indeed viable, the committee
began the process of selecting a company to
design, construct and market the index.
Joining the Sustainable Stock
Exchanges Initiative
The committee analyzed the possibility of joining the Sustainable Stock Exchanges Initiative,
created in 2009 by the United Nations (UN).
The project currently numbers 16 exchanges, including New York, London, Frankfurt and
Johannesburg. In line with the exchange's efforts to promote matters of sustainability and
transparency in the financial system, it officially
joined the organization in early December. This
platform will provide an opportunity to work
in collaboration with investors, regulators, and
companies to enhance corporate transparency—and ultimately performance—on ESG (environmental, social and corporate governance)
issues and encourage responsible, long-term
investment approaches.
Project Planning for 2015
In order to plan the projects to be developed in
2015, 15 work teams from five different departments
presented a total of 63 technology enhancement
projects to the committee. The proposed projects
involve investments of around UF 250,000. After
analyzing the proposals, 28 projects were selected
to be implemented in 2015 with a total investment
of UF 127,301. In line with the business's strategic
approach, 27% is centered around customers and
service quality; 33% is to ensure high standards of
design, operation and risk management; and the
remaining 40% involves business expansion.
REGULATIONS, RISK AND
AUDIT COMMITTEE
This committee’s functions include analyzing
and proposing improvements to the institution's regulations; evaluating and monitoring
established risk policies; overseeing its financial
position and budgets; and supervising market
tracking and external and internal audits.
ACCOMPLISHMENTS IN 2014:
Transparency and Security
Comprehensive Risk Management System
With oversight from the Regulations, Risk and
Audit Committee, implementation began in
2014 on a comprehensive risk management system based on a modeling of internal processes
divided between qualitative and quantitative
aspects. The project presented to the committee, which began in 2014 and entails 10 stages,
is scheduled to be completed during the first
half of 2015.
2014 Annual Report
Compliance
The committee continuously monitored compliance
of regulations related to Law No. 20,303 on Criminal
Liability of Legal Entities and Law No. 19,913 on the
Financial Analysis Unit, particularly efforts to prevent,
detect and respond to claims.
FACTA
In an increasingly globalized market, being familiar with and adapting to new regulations is essential to operating under the highest standards
and building customer trust. As a result, the
committee gave informational talks for brokers
on the Fair and Accurate Credit Transactions
Act, which provides a stricter framework for operating with international customers.
Audits
41
Committee Rulings on Broker Complaints and
Other Related Matters
In 2014, the Best Practice Committee analyzed
around 77 reports related to specific, comprehensive and immediate audits, periodic reports
and market tracking reports presented by Santiago Stock Exchange. After studying the data,
the committee issued four sanctions for three
brokers for violating certain aspects contained
in exchange regulations.
COMMITTEE*
This committee is responsible for hearing and
resolving any controversies that may arise
among brokers over market transactions, applying Santiago Stock Exchange's Code of Ethics.
The committee supervised compliance with the
2014 Broker Auditing Plan, verifying the nature
and scope of these audits, the brokers involved
and compliance with set deadlines and timetables. The committee analyzed these same
aspects for the operational and technological
internal audit programs carried out yearly by
Santiago Stock Exchange.
BEST PRACTICE COMMITTEE
This committee is in charge of receiving and resolving complaints among brokers or between brokers
and their clients for violations of the regulations
and laws governing Santiago Stock Exchange.
ACCOMPLISHMENTS IN 2014: BrokerCustomer Relationship
Proposal to Prevent Conflicts of Interest
In 2014, the committee drafted new proposed
regulations for preventing and handling conflicts of interest involving brokers of Santiago
Stock Exchange. The initiative served as the
foundation for a project that regulates the relationship between brokers and their customers
to ensure that conflicts of interest are properly
handled. After publishing for market consultation, the draft regulation was sent to the SVS in
2015 for its approval.
*This committee does not meet periodically and is convened for
special reasons. During 2014, the committee did not meet.
CCLV, Contraparte Central S.A.
Security and Trust for
Trades
CCLV, a subsidiary of Santiago Stock Exchange, offers a complete clearing and settlement
service. It delivers the highest levels of financial stewardship to participants in the securities market within a secure, transparent and reliable environment.
STRENGTHENING PERFORMANCE
CCLV settles transactions of Santiago Stock Exchange, as well as those of
all capital markets in Chile, acting as the central counterparty for equities
and derivatives markets, and as a clearing house for debt and repurchase
agreement markets.
AT-801
Certification
The accreditation process
for regulations that financial
institutions and banks require
In order to demonstrate the clear link between quality and service
availability, CCLV has worked to ensure business continuity with internal initiatives to forecast scenarios that may potentially affect
operations.
of their suppliers is currently
In this spirit, in 2014 CCLV successfully participated in testing of
High-Value Payment Systems (SPAV in Spanish), which also involved
market infrastructure institutions such as the Chilean Central Bank
and Central Securities Depository. These tests help improve coordination between the different financial market entities in the case of
system-wide events.
design and implementation
Efforts like this have led the entity to take steps to obtain business
continuity certification under the ISO 22,301 standard. This process
helps prepare the company to protect itself in the event of potential
scenarios that may interfere with securities settlement operations.
Secure processes are a key factor for any industry, but particularly
for financial intermediation. As a result of entity-wide efforts in 2014,
CCLV was certified under the ISO 27,001 standard on information security management.
underway and should be
completed in early 2015. This
year efforts focused on the
of the CCLV's controls of
operating effectiveness as
part of the first review process
to attain this certification.
DERIVATIVES
MARKET:
The CCLV has developed a
complete technology system to
operate in the derivatives market.
Once the regulations governing
the market are finally approved
by the SVS, derivatives trading
will become reality in our market.
2014 Annual Report
TRAINING
In order to educate its customers, CCLV organized two courses in 2014
to train associates from Settlement Agents and Indirect Settlement
Agents on the workings and operations of the systems it manages, its
risk and guarantee model, participation requirements and agent rights
and obligations, among other matters.
At the end of the training program, CCLV awarded participants a certificate to accredit their knowledge of conceptual, functional and operational aspects of CCLV's systems. These certificates help them meet
accreditation requirements as Settlement Agents and Indirect Settlement Agents.
Settlement
Agents
32
Indirect
Settlement
Agents
4
5,868,730
Total balance settled
by the CCLV
Transactions settled
by the CCLV in 2014
MMUS$ 92,835
100% of transactions were
settled on the correct day. 100%
of cash settlements and 99.86%
of position settlements
were completed on time.
43
CREATING
COMPREHENSIVE
SOLUTIONS
CHAPTER THREE
PRODUCTS AND SERVICES
FROM ROUTING TO
BACK OFFICE
As a result of the sustained development of the
local capital market and the increased complexity of financial institutions, Santiago Stock
Exchange has made it a priority to generate
new markets, products and services that provide comprehensive solutions for its customers'
businesses.
In this spirit, the exchange has developed seven
business units to vertically integrate the stock
exchange. This strategy helps achieve greater
efficiency in infrastructure use, greater economies of scale and comprehensive management
of the business.
In order to accompany customers throughout
the entire market transaction process, the exchange provides solutions for all the different
stages of the process: routing, trading, information, back office, clearing and settlement.
Initially, in a market physically restricted to brokers, the main service offered by the exchange
was trading shares. Over time, it implemented new technologies and launched electronic
systems which allowed institutional investors
to participate in real time in the stock market.
These efforts have resulted in a substantial increase in total traded volume in the equity and
debt markets. Considering only traded volume
of equities, this market expanded 89% during
the last decade, from MCh$ 10,408,056 in 2004
to MCh$ 19,629,616 as of year-end 2014.
In 2014, with the implementation of order routing for debt and money market instruments,
Santiago Stock Exchange will complete its
spectrum of services for all stages of a securities transaction.
2014 Annual Report
ORDER ROUTING
EQUITIES
TRANSACTIONS
FIXED INCOME
INFORMATION
MONEY MARKET
BACK OFFICE
47
CLEARING
AND SETTLEMENT
DERIVATIVES*
*Derivatives market: Santiago Stock Exchange has platforms available for derivatives market transactions, but is
awaiting SVS approval of its proposed regulations.
OUR PRODUCTS
AND SERVICES
Committed to offering exceptional service, Santiago Stock Exchange has designed different
business lines to strengthen and increase the depth of the Chilean capital markets. These
units are vertically integrated in the market and are available to accompany a customer
throughout the entire market transaction process. Thanks to this structure, the exchange
can provide the different market players a wide range of products and services for them to
access multiple opportunities for investment, diversification and financing with the highest
standards of security and transparency.*
STOCK
EXCHANGE
ACCESS
INFORMATION
SYSTEMS AND
SERVICES
TRADING
STATION
EXCHANGE TRADING
RIGHTS
FOR BROKERS.
ELECTRONIC QUOTING
AND TRADING
PLATFORM.
DMA CONNECTION
SERVICES
PRODUCTS AND SERVICES
FOCUSED ON THE
DISTRIBUTION OF MARKET
INFORMATION.
LINES OF
BUSINESS
SERVICES THAT ALLOW
UNIVERSAL CONNECTIVITY
FOR ORDERS TO DIRECTLY
ACCESS
THE EXCHANGE.
FRONT, MIDDLE
AND BACK OFFICE
SOLUTIONS
TECHNOLOGICAL
SOLUTIONS TO
SUPPORT AN ENTITY'S
OPERATIONAL, FINANCIAL
AND COMMERCIAL
MANAGEMENT.
CCLV
LISTING
CLEARING AND SETTLEMENT
SERVICE FOR SECURITIES
TRADING.
IDENTIFICATION AND
MANAGEMENT OF
SECURITIES ISSUERS.
*See section about CCLV for more information.
2014 Annual Report
TRADING STATIONS
Greater Speed in Chile's Largest
Trading Network
Specially designed for broker and investor trading desks, this electronic platform facilitates the
quoting and trading of various types of securities, and the possibility to access all local market
information in one place. The national network
includes more than a thousand trading stations,
making this the leading trading platform in the
Chilean stock market.
In terms of service quality, progress was made
in implementing the trading platform towards
FIX 4.4 technology in 2014. This process provides customers new benefits such as faster
trades, new features, interconnection between
systems and improved order processing, among
other items.
IN 2014, PROGRESS WAS
MADE IN IMPLEMENTING
THE TRADING PLATFORM
TOWARDS FIX 4.4
TECHNOLOGY.
49
DMA Connectivity Services
Direct and Growing Connectivity
with Santiago Stock Exchange
DMA (Direct Market Access) connectivity services, which are targeted at investors and intermediaries, include several alternatives for
connecting with Santiago Stock Exchange's
trading platforms. This enables buy and sell
orders to be routed automatically to these
systems in real-time. These services use the
most advanced trading technology available,
delivering flexibility, security, reliability and
greater efficiency between order receipt and
execution.
Santiago Stock Exchange offers several connection types depending on the nature of the
customer. Therefore, a broker may connect
directly to Santiago Stock Exchange through
DMA Broker, or it may connect its investing
customer through DMA Direct, or the exchange's routing networks may be accessed
through DMA Network to connect its local
and foreign customers.
During 2014, more than 30% of the traded volume of equities took place through a DMA connection, which reflects the strides made on this
platform. Fixed income services will be added
to this business line in early 2015.
During 2014, more than 30%
of the traded volume of
equities took place through
a DMA connection.
2014 Annual Report
51
CO-LOCATION
Connection service that consists of leasing
space in Santiago Stock Exchange's data processing center, adjacent to its trading engine,
to host servers or customer communication
equipment. This privileged location enhances
the speed of order processing and delivers high
standards of trust and security.
FOUR CONNECTION MODELS TO FIT DIFFERENT NEEDS
Model 1
Fix 4.4
Broker Customer
Fix 4.4
broker
limit
Fix 4.4
broker
limit
Broker
Model 2
Broker
Fix 4.4
NETWORK
Network Customer
Model 3
Fix 4.4
FIX
gateway
broker
limit
Santiago Stock
Exchange’s trade
engine
Broker
Fix 4.4
Investor
Model 4
Fix 4.4
Broker
Fix 4.4
broker
limit
Co-Location
Routing Network, Broker
or Investor
*Santiago Stock Exchange has agreements with the most important global routing networks:
ATG (Americas Trading Group), Bloomberg, Fidessa, Marco Polo, Fix Flyer, Raptor and Sungard.
Front, Middle and Back
Office Solutions
New Proposals for Efficient
Business Management
Openworkplace for Better
Commercial Management
This service is focused on brokers, securities
agents and asset management companies and
delivers technological solutions to support the
integrated and efficient operation of financial, operational and commercial management.
These solutions come with full technological
support and contain tools specifically designed
for the Chilean market that are adapted to its
constant growth and regulatory changes.
Santiago Stock Exchange is now locally distributing Openworkplace, a leading European
portfolio management service developed by
the Spanish technological solutions developer
Openfinance. This tool is specially designed to
efficiently manage an investment fund portfolio,
and supports customer relationship management by delivering a comprehensive vision for
their commercial advisory services.
Worth highlighting is the SEBRA Capital service,
which delivers full support to the brokerage business. Valued for its efficiency, the system is used
by close to 80% of brokers on Santiago Stock Exchange as their management system.
This software provides a single point of access to global customer information and automatically suggests portfolio adjustments
and product comparisons, thus facilitating the
preparation of reports, proposals and financial
planning. Its main benefits include the possibility of classifying and segmenting customers to
make personalized investment proposals and
portfolio distributions, among other interesting
operations. This new product marks an important milestone in the role of Santiago Stock Exchange as a driver for innovation and financial
market development. It introduces Europe's
leading portfolio management tool to the region in order to meet the needs of the diverse
market players operating in Chile.
Other useful tools include SEBRA AGF, a platform
that helps efficiently manage investment funds,
and Openworkplace, for the wealth and portfolio
management businesses. These solutions allow
for innovation in account and customer relationship management while providing a comprehensive overview for commercial advising.
CLOSE TO 80% OF THE
BROKERS OF Santiago
STOCK EXCHANGE USE
SEBRA CAPITAL AS THEIR
MANAGEMENT SYSTEM.
2014 Annual Report
Information Systems and
Services
100% Coverage for Proper
Investment Decision-Making
Santiago Stock Exchange provides investors
with several information services such as Market
Data, Drop Copy, Consultation Station, Stock
View and Databases, among other services.
They can be used to find online information on
prices, tradings, rates, volumes and a complete
historical file for each market.
The services allow information regarding the
Chilean securities market to be distributed both
locally and internationally, thus satisfying the
needs of multiple investors. In order to strengthen these services, the Market Data service was
expanded to include fixed income and money
market transactions. Santiago Stock Exchange
now delivers information with FIX technology
for all markets.
CURRENTLY, ALL INFORMATION
ON THE CHILEAN SECURITIES
MARKET IS AVAILABLE THROUGH
THE DIFFERENT SERVICES
PROVIDED BY Santiago STOCK
EXCHANGE, BOTH LOCALLY AND
INTERNATIONALLY.
53
EVERYONE
PLAYS A PART
IN BUILDING
OUR MARKET
CHAPTER FOUR
OUR BROKERS
Our Brokers
Whether as intermediaries in securities transactions or advisors in investors' decision-making processes, brokers are
essential to creating and developing the securities market.
Intermediaries are capital market participants that collaborate to make each transaction competitive and provide liquidity.
As of year-end 2014, Santiago Stock Exchange had 28 active
brokers.
2014 Annual Report
57
BROKERS OF Santiago STOCK EXCHANGE
BANCHILE Corredores de Bolsa S.A.
Address:
Telephone:
Website:
Agustinas 975, piso 2, Santiago
Traded Volume Equities and IFQ (MCh$):
6,849,091
(56-2) 26612200
Traded Volume Fixed Income (MCh$):
14,114,722
www.banchile.cl
Traded Volume Money Market (MCh$):
50,350,718
Traded Volume Currency (MCh$):
20,946,130
Traded Volume Foreign Securities (MCh$):
115,990
Total Traded Volume (MCh$):
92,376,651
Profit (MCh$):
7,941
Equity (MCh$):
86,510
BANCOESTADO S.A. Corredores de Bolsa
Address:
Av. Lib. B. O'Higgins 1111, piso 6, Santiago.
53,260
Telephone:
(56-2) 29707102
29,495,107
Website:
www.bancoestado.cl
131,606,199
8,732,421
6,150
169,893,137
Profit (MCh$):
9,947
Equity (MCh$):
62,731
Av. Costanera Sur 2710, piso 9, Torre A,
Las Condes.
168,562
26,054,747
Telephone:
(56-2) 26792750
71,004,321
Website:
www.bbva.cl
964,478
0
98,192,108
Profit (MCh$):
4,407
Equity (MCh$):
37,087
Calle Magdalena 140, piso 14,
Las Condes.
1,426,454
13,923,070
(56-2) 26928900
46,641,561
www.bci.cl
2,296,138
6,126
64,293,349
Profit (MCh$):
8,718
Equity (MCh$):
79,691
BBVA Corredores de Bolsa Ltda.
Address:
BCI Corredor de Bolsa S.A.
Address:
Telephone:
Website:
Note: Total traded volume per broker in each market includes on market and over-the-counter transactions.
Equity and profit is as of September 30, 2014 (MCh$).
Brokers current as of December 31, 2014.
BICE INVERSIONES Corredores de Bolsa S.A.
Address:
Telephone:
Website:
Teatinos 280, piso 5, Santiago.
731,748
(56-2) 26922800
18,199,141
(56-2) 26922801
23,326,585
827,691
89,466
43,174,631
Profit (MCh$):
1,715
Equity (MCh$):
15,442
www.bice.cl
BTG PACTUAL CHILE S.A. Corredores de Bolsa
Address:
Av. Costanera Sur 2730, piso 21, Las Condes.
4,893,386
Telephone:
(56-2) 25875100
3,128,868
www.btgpactual.cl
3,177,475
16
4,299
11,204,044
Profit (MCh$):
6,396
Equity (MCh$):
51,714
El Bosque Sur 130, piso 13, Providencia.
376,557
(56-2) 22304020
10,393,216
www.consorcio.cl
5,822,781
53,619
0
16,646,173
Profit (MCh$):
5,863
Equity (MCh$):
33,750
Website:
CONSORCIO Corredores de Bolsa S.A.
Address:
Telephone:
Website:
CORPBANCA Corredores de Bolsa S.A.
Address:
Rosario Norte 660, piso 17, Las Condes.
889,172
Telephone:
(56-2) 26603600
5,662,614
Website:
www.corpbancainversiones.cl
10,820,142
32,408,017
0
49,779,945
Profit (MCh$):
1,670
Equity (MCh$):
39,707
2014 Annual Report
59
CRUZ DEL SUR Corredora de Bolsa S.A.
Address:
Telephone:
Website:
Augusto Leguía Sur 70, piso 5,
129,080
Las Condes, Santiago
365,623
(56-2) 29016440
93,664
394,086
185
982,638
Profit (MCh$):
-265
Equity (MCh$):
3,662
www.cruzdelsur.cl
ETCHEGARAY S.A. Corredores de Bolsa
Address:
La Bolsa 64, of. 122, Santiago.
24,522
Telephone:
(56-2) 26967385
0
0
6
0
24,528
Profit (MCh$):
240
Equity (MCh$):
4,173
(56-2) 26980390
Website:
www.etchegaray.cl
EUROAMERICA Corredores de Bolsa S.A.
Address:
Av. Apoquindo 3885, piso 21, Las Condes.
1,230,313
Telephone:
(56-2) 25817000
3,663,136
Website:
www.euroamericacorredores.cl
12,215,735
15,589,474
0
32,698,658
Profit (MCh$):
716
Equity (MCh$):
14,515
Av. I. Goyenechea 3477, piso 11,
Las Condes.
120,445
2,086,551
(56-2) 24991500
56,129
www.fynsa.cl
94,728
0
2,357,853
Profit (MCh$):
174
Equity (MCh$):
4,040
FINANZAS Y NEGOCIOS S.A. Corredores de Bolsa
Address:
Telephone:
Website:
GBM Corredores de Bolsa Ltda.
Address:
Magdalena 181, piso 16, Las Condes.
242,310
(56-2) 26169800
0
www.gbm.com.mx
0
0
0
242,310
Profit (MCh$):
-26
Equity (MCh$):
5,284
3,200,011
(56-2) 24501600
10,841,912
www.imtrust.cl
2,728,941
7,857,570
283
24,628,717
Profit (MCh$):
1,745
Equity (MCh$):
14,371
Magdalena 140, of. 601,
Las Condes, Santiago.
1,304,002
4,773,175
Telephone:
(56-2) 26857839
11,484,985
Website:
www.itau.cl
0
0
17,562,162
Profit (MCh$):
2,488
Equity (MCh$):
22,117
Nueva York 48, Of. 22, Santiago.
55,481
(56-2) 26962563
0
(56-2) 26980302
0
15
0
55,496
Profit (MCh$):
-191
Equity (MCh$):
4,925
Telephone:
Website:
I.M. TRUST S.A. Corredores de Bolsa
Address:
Telephone:
Website:
ITAÚ BBA Corredor de Bolsa Ltda.
Address:
JAIME LARRAIN Y CIA. Corredores de Bolsa Ltda.
Address:
Telephone:
Website:
www.larrainycia.cl
2014 Annual Report
61
J.P. MORGAN Corredores de Bolsa S.p.A.
Address:
Telephone:
Website:
Apoquindo 2827, piso 13,
393,354
Las Condes, Santiago.
0
(56-2) 24255100
0
0
0
393,354
Profit (MCh$):
1,631
Equity (MCh$):
33,330
www.jpmorgan.com
LARRAIN VIAL S.A. Corredora de Bolsa
Address:
Av. Calle La Bolsa 88, of. 33, Santiago.
5,821,592
Telephone:
(56-2) 26721505
17,745,982
14,029,247
7,132,566
436
44,729,823
Profit (MCh$):
3,395
Equity (MCh$):
68,091
(56-2) 23398500
Website:
www.larrainvial.com
MBI Corredores de Bolsa S.A.
Address:
Av. Pdte. Riesco 5711, of. 602, Las Condes.
1,482,001
Telephone:
(56-2) 26553700
555,772
Website:
www.mbi.cl
94,904
1
142
2,132,820
Profit (MCh$):
9,860
Equity (MCh$):
49,986
MERRILL LYNCH Corredores de Bolsa S.p.A
Address:
2,209,987
Telephone:
(56-2) 24909500
350,482
www.merrill.cl
0
11,402,720
0
13,963,189
Profit (MCh$):
2,394
Equity (MCh$):
21,230
Website:
NEGOCIOS Y VALORES S.A. Corredores de Bolsa
Address:
Telephone:
Website:
Rosario Norte 555, piso 15, Las Condes.
1,035,044
(56-2) 24119800
5,744,771
www.nevasa.cl
5,426,118
105,934
0
12,311,867
Profit (MCh$):
106
Equity (MCh$):
5,584
Av. El Bosque Norte 0440, piso 12,
Las Condes.
621,181
3,814,537
(56-2) 28733000
4,080,576
www.bancopenta.cl
36,022
0
8,552,316
Profit (MCh$):
3,515
Equity (MCh$):
50,660
PENTA Corredores de Bolsa S.A.
Address:
Telephone:
Website:
SANTANDER S.A. Corredores de Bolsa
Address:
Bandera 140, piso 12, Santiago.
3,512,156
Telephone:
(56-2) 23363400
16,525,905
Website:
www.santander-investment.cl
15,485,270
0
0
35,523,331
Profit (MCh$):
716
Equity (MCh$):
42,241
SCOTIA Corredora de Bolsa Chile S.A.
Address:
Agustinas 1225, piso 5, Santiago.
1,171,274
Telephone:
(56-2) 26925703
2,000,574
www.scotiabank.cl
8,952,671
129,221
0
12,253,740
Profit (MCh$):
180
Equity (MCh$):
12,759
Website:
2014 Annual Report
63
Corredores de Bolsa SURA S.A.
Address:
Telephone:
Website:
126,104
(56-2) 29152010
394
www.sura.cl
0
0
0
126,498
Profit (MCh$):
-1,125
Equity (MCh$):
6,791
TANNER Corredores de Bolsa S.A.
Address:
Av. El Golf 40, of. 902, Las Condes.
724,987
Telephone:
(56-2) 27318900
2,660,880
www.tanner.cl
680,047
1,691,252
0
5,757,166
Profit (MCh$):
-918
Equity (MCh$):
8,046
Website:
UGARTE Y CIA. Corredores de Bolsa S.A.
Address:
Bandera 59-61, of. 10, Santiago
93,538
Telephone:
(56-2) 28277000
151
Website:
www.ugarteycia.cl
40,795
10,355
0
144,839
Profit (MCh$):
-25
Equity (MCh$):
6,071
VALORES SECURITY S.A. Corredores de Bolsa
Address:
1,485,902
Telephone:
(56-2) 25844700
6,251,665
www.security.cl
2,670,738
32,948,260
6,577
43,363,142
Profit (MCh$):
1,631
Equity (MCh$):
33,330
Website:
PEOPLE ARE
OUR BEST
INVESTMENT
CHAPTER FIVE
COMMUNITY RELATIONS
COMMUNITY
RELATIONS
AT Santiago STOCK
EXCHANGE, WE WANT
TO CONTRIBUTE TO
OUR COUNTRY’S
ECONOMIC, SOCIAL
AND ENVIRONMENTAL
DEVELOPMENT.
AS PART OF OUR
COMMITMENT TO BUILDING
A BETTER CHILE, WE HAVE
GENERATED STRONG TIES
WITH THE COMMUNITY,
FOCUSED ON BRINGING
THE SECURITIES MARKET
TO ALL CHILEANS. WE
HAVE ALSO WORKED
TO GENERATE AN
INTERNAL CULTURE
THAT IS CONSISTENT
WITH THESE EFFORTS.
2014 Annual Report
67
Investor
Education
Know the Stock Exchange
This program teaches high school and university students from local and foreign schools
how the stock market works using a simple,
dynamic and engaging format.
With nearly ten years in existence, the program
gives the exchange contact with the community and responds to the growing need for information from those interested in knowing more
about markets from an early age. In 2014 over
5,000 individuals participated and 107 tours
were given, coordinated primarily through the
exchange’s website.
Aware of the interest in areas outside Santiago to obtain information on Santiago Stock
Exchange and the securities market, in 2014
the exchange organized the Know the Stock
Exchange Tour to Temuco and Antofagasta.
These events helped teach around 900 individuals about the Chilean stock market.
In light of how well the project was received in
areas outside Santiago, the exchange will continue organizing regional tours in 2015.
THE EXCHANGE IN ACTION
As part of the financial literacy initiatives in
which Santiago Stock Exchange is engaged,
its chairman, Juan Andrés Camus, held several
meetings with universities during his first year
leading the institution.
Among other activities, he gave a presentation to undergraduate students at Universidad Católica’s School of Economics and Administration regarding the stock market and
the exchange’s current projects; he gave a talk
about the future of the Chilean financial market to students at Universidad Adolfo Ibáñez,
as part of the school’s Current Affairs Series
and he explained how the exchange conducts
itself regarding and copes with market demand at the School of Economics and Business at Universidad de Chile.
Alliance with UAI for
Investors
With the goal of educating investors, Santiago Stock Exchange has formed an alliance
with Universidad Adolfo Ibáñez to provide
courses on a range of different topics. In
2014, around 600 people participated.
1. Introductory Talk on the Exchange and
the Equity Market (CIMA in Spanish). This
two-hour talk provides an introduction to
how the market works and is given at no
cost. The audience is made up of individuals
that are interested in learning more about the
institution, including students from a variety
of disciplines—not only finance or business—
and in recent years has come to include both
undergraduate students and senior citizens.
Each version, which is announced on the exchange’s website, attracts around 60 participants.
2. Introduction to Technical Analysis (CIAT
in Spanish) and Introduction to Analysis of
Market Fundamentals (CIAF in Spanish), designed to introduce students to theories used
to analyze charts and market trends, or market
fundamentals, respectively. Both courses are
designed as a first approach to topics such as
how to make investment decisions and how to
participate in the market. Each session is open
to 50 participants. The two programs combined
were given a total of five times in 2014.
3. Technical Analysis Program (PAT in Spanish).
This 16-hour course is held over three weeks at
the Executive Education Center at Universidad
Adolfo Ibáñez plus a closing session at Santiago
Stock Exchange. The goal of the course is to
expand on topics presented in the Introduction
to Technical Analysis.
4. Certificate in Equities Management (DGA in
Spanish). This program gives participants extensive knowledge and practical skills for operating
in the equity market in accordance with the industry’s current needs and requirements.
To complement these ongoing programs, in 2014
Santiago Stock Exchange organized a training
course for financial journalists in collaboration
with Universidad Adolfo Ibáñez. The course was
attended by journalists representing different
media outlets from throughout Chile.
Number of
individuals
participating
in the Know
the Stock
Exchange
Program
5,000
2014 Annual Report
Investment Portfolio
Contest (CCI in Spanish)
Santiago STOCK EXCHANGE'S
INVESTMENT DESK
With a 25 year track record, the Investment
Portfolio Contest is the most important investor simulation game in Chile and provides a very
practical way to teach people about the stock
market. It puts participants' talent to the test,
buying and selling stocks online using fictitious
resources but operating with real market rules.
As part of its contribution to education and financial literacy, Santiago Stock Exchange has alliances to install investment desks at schools throughout the country for students to begin to learn at
an early age how to operate information stations
and, therefore, how the stock market works.
It features three categories: Open, for individuals
older than 18 years of age; University, for undergraduate students and Schools for high school
students. More than 18,000 people registered for
the 2014 edition. This contest was created as a
way to attract new participants to the exchange
and allow them to test their skills without running
any market risk. Its success is demonstrated by
the more than 200,000 participants that have
taken part in the CCI throughout its existence,
making it an important, far-reaching and entertaining educational tool.
69
User accounts, identical to those used by brokers, are given at no cost in exchange for the
universities providing the infrastructure and
making it available to their students.
Trading stations have already been installed at
IP Los Leones and the School of Economics at
Universidad Diego Portales. In mid-2014, five accounts were set up at Universidad de los Andes
and the exchange is talking with other schools
to expand the project in 2015.
213,648
NUMBER OF
PARTICIPANTS IN
INVESTMENT PORTFOLIO
CONTESTS OVER THE
LAST DECADE
OUR
ASSOCIATES
Organizational Culture
As part of the comprehensive management
Promoting a work environment that fosters
characteristic of an efficient organization that
a culture of excellence and rewards merit is a
is sustainable over the long-term and in touch
priority for Santiago Stock Exchange. In this
with the community, Santiago Stock Exchange
context, in order to generate incentives for
places special importance on team developgood performance and leverage the acquired
ment within its organization.
expertise of its associates, the exchange first
attempts to fill vacancies from within the orIt aspires for its associates to contribute conganization.
sistently to the pillars of service excellence,
trust and innovation and to help develop a dyThanks to this strategy, 48 associates took on
namic and holistic organizational culture.
new responsibilities in 2014. This represents
internal mobility of 17% of the company's
In this spirit and in line with business needs,
workforce.
the exchange has structured its human resource strategy around a four-year plan. The
For the exchange, it is essential that its assoplan is updated when necessary to reflect the
ciates continuously update their knowledge
requirements of an ever-changing industry.
based on business needs. To help accomplish this, the organization prepares a “master training plan”, which provides a four-year
strategic plan for managing the process of
improving the technical and leadership skills
of its associates.
2.7%
Percentage of
budget
allocated
to training in
2014.
2014 Annual Report
CORPORATE SOCIAL
RESPONSIBILITY
In an attempt to help build a better Chile
with more opportunities, Santiago Stock Exchange and its associates have come together to help a variety of foundations and raise
funds to assist several different communities.
Each year before the organization's anniverThe "training master plan" also includes
sary celebrations, Santiago Stock Exchange
scholarships for associates to participate in
encourages associates to participate in a
graduate certificate and master's programs
social activity to help individuals in need. In
and internal or external workshops and
2014, they organized an afternoon of games
courses as well as co-funding for technical
at a children's home in La Pintana. Forty assoor graduate degrees.
ciates participated in the event.
Resources allocated to training initiatives
represented 2.7% of total operating expenses in 2014.
Another priority for Santiago Stock Exchange is to cultivate conditions for optimal relations among associates, ensuring a
sense of belonging and improving the work
environment. Along these lines, the organization assesses associate perception of
workplace climate on a yearly basis. In 2014,
the survey gave the entity a score of 5.8 on
a scale of 1 to 7.
In order to reinforce its organizational culture, the exchange organizes periodic social
events, some institution-wide and others
by area. Objectives such as strengthening
teamwork and encouraging inter-departmental interaction and collaboration were
priorities during 2014.
Santiago Stock Exchange also organizes activities designed to enhance its associates' quality of life, including tennis,
soccer and table tennis tournaments; activities for associates' children; inter-departmental competitions in September
and December of each year and health
and wellness campaigns.
The exchange has also allocated resources
from surplus training tax credits to finance
and organize scholarships for associates'
families and loved ones in order to provide
tools to improve their job prospects and foster entrepreneurship.
71
BEYOND THE
NUMBERS
CHAPTER SIX
THE ECONOMY AND
THE STOCK MARKET 2014
The Economy in Figures
ABOUT CHILE
POPULATION:
GDP:
17.62 MILLION
MUS$
GDP PER CAPITA (PPP):
GDP GROWTH:
21,911
1.9 %
(1)
(1)
US$
277,199
UNEMPLOYMENT:
INFLATION:
6.2 %
4.6 %
Rating:
TRADE BALANCE:
AA- ; A+
MUS$
EXPORTS:
IMPORTS:
MUS$
76,648
MUS$
(1)
8,560
68,089
Sources: National Statistics Institute (INE)-Chilean Central Bank-Trading Economics.
(1) World Bank figures as of December 2013.
2014 Annual Report
75
GROSS DOMESTIC PRODUCT (2005 – 2014)
140,000,000
7.00%
MMCH$ AS OF 2014
5.00%
100,000,000
4.00%
80,000,000
3.00%
60,000,000
2.00%
1.00%
40,000,000
0.00%
20,000,000
-1.00%
0
PIB
Annual var. (%)
ANNUAL VARIATION (%)
6.00%
120,000,000
-2.00%
2005
2006
2007
2008
2009
2010
2011
2013
2014
81,742,969
86,397,688
90,856,522
93,847,932
92,875,262
98,219,034
103,954,673
109,627,615
2012
114,260,687
116,424,841
6.18%
5.69%
5.16%
3.29%
-1.04%
5.75%
5.84%
5.46%
4.23%
1.89%
Source: Chilean Central Bank.
1.9%
The percentage represented a decline of
economic growth compared to previous years.
GDP PER INDUSTRY
Corporate services,
personal services and
mining together account
for more than 40% of GDP.
5.08%
Public
Administration
3.24%
Agriculture and forestry
0.51%
Fishing
12.31%
Mining
12.30%
Personal
Services
5.70%
Housing
Services
11.94%
Manufacturing
2.90%
15.81%
Electricity,
gas and water
Corporate
Services
8.35%
Construction
5.09%
Financial
Services
2.11%
Communications
8.74%
4.09% 1.85%
Restorants
Transport
and hotels
Commerce
CHANGE IN MONTHLY ECONOMIC ACTIVITY INDICATOR (IMACEC) 2014
4.0%
3.5%
3.0%
%
2.5%
2.0%
1.5%
1.0%
0.5%
0.0%
Jan
Variation
1.5%
Feb
Mar
3.5%
Apr
3.1%
2.1%
May
Jun
2.4%
1.2%
Jul
Aug
0.8%
0.3%
Sep
Oct
1.4%
1.5%
Nov
Dec
1.3%
2.9%
3.5%
FEBRUARY POSTED THE STRONGEST GROWTH (3.5%) FOLLOWED BY MARCH
AND DECEMBER.
CHANGE
IN ANNUAL
CHANGE ANNUAL
CPI (2005 - CPI
2014)(2005 - 2014)
10.00%
8.00%
%
6.00%
4.00%
2.00%
0.00%
-2.00%
Inflation Rate
2005
2006
2007
2008
3.66%
2.57%
7.82%
7.09%
2009
-1.38%
2010
2011
2012
2013
2014
2.97%
4.44%
1.49%
3.01%
4.64%
Source: National Statistics Institute (INE).
4.6%
CPI FOR THE YEAR ENDED DECEMBER 2014. THIS FIGURE IS
ABOVE THE 3% ANNUAL TARGET SET BY THE CHILEAN CENTRAL
BANK AND THE HIGHEST CHANGE RECORDED SINCE 2008.
2014 Annual Report
77
CHANGE IN MONTHLY CPI 2014
1.2%
1.0%
0.8%
0.6%
%
0.4%
0.2%
0.0%
-0.2%
-0.4%
-0.6%
Variation
Jan
Feb
Mar
Abr
Apr
May
Jun
Jul
Ago
Aug
Sep
Oct
Nov
Dic
Dec
0.2%
0.5%
0.8%
0.6%
0.3%
0.1%
0.2%
0.3%
0.8%
1.0%
0.0%
-0.4%
1.0%
THE LARGEST MONTHLY CHANGE IN CPI, POSTED IN
OCTOBER. MARCH FOLLOWED WITH 0.8%.
UNEMPLOYMENT RATE 2014
6.80%
%
6.60%
6.40%
6.20%
6.00%
5.80%
5.60%
Unemployment
Rate
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
6.5%
6.1%
6.3%
6.5%
6.5%
6.7%
6.6%
6.4%
6.1%
6.0%
6.2%
6.2%
6.3%
It was the average unemployment rate during the
year and remained relatively stable in the period.
TRADE BALANCE (2005 – 2014)
90,000
80,000
70,000
MUS$
60,000
50,000
40,000
30,000
20,000
10,000
0
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
11,309
22,947
24,132
6,074
15,360
15,736
11,040
2,508
2,117
8,560
Exports
41,974
59,380
68,561
64,510
55,463
71,109
81,438
77,965
76,684
76,648
Imports
30,665
36,433
44,430
58,436
40,103
55,927
70,398
75,458
74,568
68,089
Trade Balance
MUS$
8,560
TRADE BALANCE IN 2014. THIS IS THE LARGEST FIGURE SINCE
2011, MAINLY DUE TO A SHARP DROP IN IMPORTS.
BALANCE OF PAYMENTS (2005 – 2014)
16,000
14,000
12,000
10,000
MUS$
8,000
6,000
4,000
2,000
0
-2,000
-4,000
-6,000
Balance
of Payments
2005
2006
1,716
1,997
2007
2008
2009
2010
2011
2012
2013
2014
-3,214
6,444
1,648
3,024
14,190
-367
311
1,063
MUS$
1,063
THE POSITIVE BALANCE OF PAYMENTS FOR 2014 IS GREATER THAN
THE LAST TWO YEARS BUT LESS THAN THE SURPLUS IN 2011.
2014 Annual Report
79
CENTRAL BANK INTERNATIONAL RESERVES (2005 – 2014)
45,000
40,000
35,000
MUS$
30,000
25,000
20,000
15,000
10,000
5,000
0
Central Bank Gross
Foreign Reserves
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
16,963
19,429
16,910
23,162
25,373
27,864
41,979
41,650
41,094
40,447
MUS$
40,447
THE CHILEAN CENTRAL BANK'S RESERVES DECREASED WITH RESPECT TO 2013, BUT
REMAIN OVER THE MUS$ 40,000 MARK REACHED AT THE BEGINNING OF THE DECADE.
EVOLUTION OF THE AVERAGE DOLLAR (2005 – 2014)
590.00
CHILEAN PESOS PER DOLLAR
570.00
550.00
530.00
510.00
490.00
470.00
450.00
430.00
Dollar Value
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
559.68
530.34
522.55
522.35
559.15
510.22
483.57
486.59
495.18
570.34
Source: Santiago Stock Exchange.
CH$570.34
AVERAGE DOLLAR FOR 2014, A SIGNIFICANT
RISE OVER THE LAST THREE YEARS.
AVERAGE MONTHLY DOLLAR 2014
630.00
CHILEAN PESOS PER DOLLAR
610.00
590.00
570.00
550.00
530.00
510.00
490.00
470.00
450.00
430.00
Dollar Value
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
538.36
554.69
563.45
555.28
554.71
553.16
559.14
579.94
593.88
588.95
593.91
612.98
Source: Santiago Stock Exchange.
15.7%
US DOLLAR APPRECIATION WITH RESPECT TO THE CHILEAN PESO. DURING
2014, MONTHLY INCREASES WERE POSTED EXCEPT FOR Q2 (APRIL-JUNE).
AVERAGE REAL ANNUAL INTEREST RATE (2005 – 2014)
REAL ANNUAL INTEREST RATE
4.00
3.50
3.00
2.50
2.00
1.50
1.00
0.50
0.00
Real Annual
AverageInterest
Rate
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
1.89
2.83
2.20
2.23
3.13
1.31
2.44
3.50
2.89
1.38
1.38%
AVERAGE REAL ANNUAL INTEREST RATE IN 2014,
THE LOWEST FIGURE IN FOUR YEARS.
2014 Annual Report
81
2014 STOCK MARKET
SUMMARY
90,000
500,000
80,000
450,000
400,000
70,000
350,000
60,000
300,000
50,000
250,000
40,000
200,000
30,000
150,000
20,000
100,000
50,000
10,000
0
Total Traded
Volume (MM$)
Total Trades
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
80,586
67,791
83,354
78,769
78,370
73,911
79,354
80,774
82,691
85,452
77,693
78,750
423,565
339,836
429,451
430,684
427,153
415,939
449,628
429,124
435,649
473,075
411,311
454,617
1.2%
PERCENTAGE GROWTH IN TOTAL TRADED VOLUME IN 2014
OVER 2013, REACHING MMUS$ 947,497. THE TOTAL NUMBER
OF TRADES INCREASED 5.1% DURING THE YEAR.
PARTICIPATION BY MARKET 2014
PARTICIPACIÓN POR MERCADOS 2014
0.02% 3.41%
Foreign
Securities
Stock
0.19%
Investment
Fund Quotas
25.38%
Currency
48.97%
Money
Market
22.03%
Fixed-Income
TOTAL TRADES
TOTAL TRADED VOLUME (MMUS$)
TOTAL TRADED VOLUME AND NUMBER OF TRADES 2014
NDICE DE PRECIOS SELECTIVO DE ACCIONES (IPSA) 2014
SELECTIVE STOCK PRICE INDEX (IPSA) 2014
4,600.00
10.00%
8.00%
4,100.00
6.00%
4.00%
2.00%
3,100.00
0.00%
2,600.00
-2.00%
-4.00%
2,100.00
-6.00%
1,600.00
Index (Points)
Change (%)
-8.00%
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
3,439.41
3,718.88
3,772.76
3,909.64
3,903.81
3,875.73
3,875.44
3,996.63
3,943.56
3,850.97
3,991.78
3,850.96
-7.02%
8.12%
1.44%
3.62%
-0.14%
-0.71%
0.00%
3.12%
-1.32%
-2.34%
3.65%
-3.52%
4.1%
WITH THIS ANNUAL INCREASE IN 2014, THE IPSA REVERSED THE
DOWNWARD TREND SEEN IN 2013 WHEN IT CONTRACTED 14%.
STOCK MARKET INDICES OF Santiago STOCK EXCHANGE - CHANGE IN 2014
4.10%
IPSA
3.52%
IGPA
3.98%
IGPA LARGE
0.09%
IGPA MID
4.66%
INDEX
IGPA SMALL
3.89%
INTER-10
5.72%
BANCA
-4.64%
COMMODITIES
-10.19%
CONS. & INMOB
-5.92%
CONSUMO
INDUSTRIAL
-12.52%
RETAIL
-12.54%
26.54%
UTILITIES
-15%
-10%
-5%
0%
5%
10%
15%
20%
CHANGE %
CHANGE
%
26.54%
INCREASE POSTED BY UTILITIES INDEX IN 2014 WITH RESPECT TO
2013. THIS INDEX OUTPERFORMED ALL OTHER MARKET INDICES.
25%
30%
CHANGE (%)
INDEX
3,600.00
2014 Annual Report
83
MARKET SHARE (2005 - 2014)
PARTICIPACIÓN POR MERCADOS (2005 - 2014)
0.01%
5.67%
Foreign
Securities
Stock
0.15%
Investment
Fund Quotas
20.23%
Currency
49.76%
Money
Market
24.19%
Fixed-Income
5,000.00
60.00%
4,500.00
50.00%
4,000.00
40.00%
3,500.00
30.00%
INDEX
3,000.00
20.00%
2,500.00
10.00%
2,000.00
0.00%
1,500.00
1,000.00
-10.00%
500.00
-20.00%
0.00
-30.00%
Index (Points)
Change (%)
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
1,964.47
2,693.22
3,051.83
2,376.42
3,581.42
4,927.53
4,177.53
4,301.38
3,699.19
3,850.96
9.35%
37.09%
13.31%
-22.13%
50.70%
37.58%
-15.22%
29.60%
-14.00%
4.10%
96%
INCREASE IN IPSA BETWEEN 2005 AND 2014, RISING FROM 1,964.47
POINTS TO 3,850.96 POINTS AS OF DECEMBER OF EACH YEAR.
CHANGE (%)
CHANGE (%)
IPSA INDEX GROWTH (2005 - 2014)
STOCK MARKET INDices OF Santiago
STOCK EXCHANGE - CHANGE 2005-2014
ÍNDICES BURSÁTILES DE LA BOLSA DE SANTIAGO VARIACIÓN 2005-2014
IPSA
96.03%
IGPA
104.98%
IGPA LARGE
25.07%
IGPA MID
20.33%
IGPA SMALL
88.87%
INDEX
INTER-10
127.48%
BANCA
134.32%
COMMODITIES
-10.85%
CONS. & INMOB
-26.82%
CONSUMO
44.98%
INDUSTRIAL
-18.25%
RETAIL
13.94%
79.58%
UTILITIES
-40%
-20%
0%
20%
40%
60%
80%
100%
120%
140%
160%
CHANGE %
EQUITY MARKET GROWTH 2005 - 2014
EVOLUCIÓN MERCADO ACCIONARIO 2005 - 2014
2,500,000
60,000
40,000
1,500,000
30,000
1,000,000
20,000
500,000
10,000
0
0
2005
2006
2007
2008
2009
2010
Total Traded
Volume (MMUS$)
24,037
34,107
53,109
37,780
40,672
53,091
Total Trades
629,329
656,391
996,010
869,387
1,047,832
1,882,672
2011
50,175
2,234,004
2012
2013
39,808
39,947
1,968,889
2,137,447
2014
32,319
2,205,044
Note: Traded volume expressed in millions of dollars using the “observed
dollar” exchange recorded at the last day of 2014
250%
RISE IN NUMBER OF TRADES ON THE EQUITY
MARKET OVER THE LAST DECADE.
TOTAL TRADES
2,000,000
TOTAL TRADES
TRADED VOLUME (MMUS$)
50,000
2014 Annual Report
85
INVESTMENT FUND (CFI) MARKET GROWTH 2005 - 2014
EVOLUCIÓN MERCADO CFI 2005 - 2014
6,000
2,000
1,800
4,000
1,200
3,000
1,000
800
2,000
600
400
1,000
200
0
Total Traded
Volume (MMUS$)
Total
Trades
0
2005
2006
2007
2008
2009
2010
2011
2012
2013
213
783
1,815
1,257
761
1,091
914
1,004
913
2014
1,823
209
332
657
971
999
1,734
2,461
2,895
3,717
5,693
Note: Traded volume expressed in millions of dollars using the
“observed dollar” exchange recorded at the last day of 2014
1,893
MMUS$
THE INVESTMENT FUND SHARE MARKET POSTED RECORD
FIGURES FOR TOTAL TRADED VOLUME IN 2014.
FIXED INCOME (IRF) MARKET GROWTH 2005 - 2014
700,000
600,000
200,000
500,000
150,000
400,000
300,000
100,000
200,000
50,000
100,000
0
Total traded
volume(MMUS$)
Total
trades
0
2005
2006
2007
2008
164,927
131,530
155,362
170,874
495,631
596,636
591,438
510,857
2009
2010
2011
2012
2013
200,763
172,112
504,885
368,218
2014
206,423
147,831
170,546
208,760
351,911
303,095
318,543
370,304
22.4%
GROWTH IN TRADED VOLUME (LTM) IN FIXED INCOME
MARKET, TOTALING MMUS$ 208,760 IN 2014— A RECORD
PERFORMANCE FOR THE FIXED INCOME MARKET.
TOTAL
TRADES
TOTAL
TRADES
250,000
TOTAL TRADES
1,400
TOTAL TRADES
5,000
1,600
350,000,000
900,000
300,000,000
800,000
700,000
250,000,000
600,000
200,000,000
500,000
150,000,000
400,000
100,000,000
300,000
50,000,000
200,000
0
Total traded
tolume(MMUS$)
Total
trades
TOTAL TRADES
MONEY MARKET (IIF) GROWTH 2005 - 2014
100,000
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
115,554,728
147,174,787
175,255,277
194,232,942
207,741,844
231,125,638
248,807,452
266,153,867
292,341,633
281,888,477
353,924
462,357
577,780
665,661
758,911
686,097
736,328
797,946
823,052
796,823
A DECADE OF INCREASES
BOTH NUMBER OF TRADES AND TOTAL TRADED VOLUME OF MONEY
MARKET INSTRUMENTS DOUBLED OVER THE LAST DECADE.
CURRENCY MARKET GROWTH 2005 - 2014
2,000,000
1,800,000
1,600,000
300,000
1,200,000
200,000
1,000,000
800,000
150,000
TOTAL TRADES
1,400,000
250,000
600,000
100,000
400,000
50,000
200,000
0
0
Total traded
tolume(MMUS$)
Total
trades
2005
2006
62,843
69,540
352,634
517,185
2007
2008
2009
2010
2011
2012
106,261
94,527
644,555
729,578
2013
2014
108,460
143,232
176,557
200,004
244,246
240,490
811,696
1,041,325
1,197,196
1,431,015
1,585,094
1,739,935
Note: Traded volume expressed in millions of dollars using the
“observed dollar” exchange recorded at the last day of 2014
352,634
393%
GROWTH OF CURRENCY INSTRUMENT TRADES, MOSTLY IN DOLLARS.
2014 Annual Report
87
FOREIGN SECURITY MARKET GROWTH 2006 - 2014
200,0
7,000
180,0
6,000
160,0
120,0
4,000
100,0
3,000
80,0
60,0
2,000
TOTAL TRADES
5,000
140,0
40,0
1,000
20,0
0,0
Total traded
volume (MMUS$)
0
2006
2007
2008
24,1
10,6
484
89
Total
trades
2009
2010
2011
2012
2013
2014
0,1
1,6
75,3
53,7
68,6
138,2
189,1
2
101
677
1,275
1,663
5,163
6,006
Note: Figures in MMUS$
EMERGING BUSINESS
SINCE OPERATIONS BEGAN IN 2006, TOTAL TRADED VOLUME ON
THE FOREIGN SECURITY MARKET HAS GROWN SEVEN-FOLD WHILE
THE NUMBER OF TRADES HAS INCREASED TWELVE-FOLD.
TOTAL TRADED VOLUME AND NUMBER OF TRADES ALL MARKETS 2005 - 2014
1,010,000
6,000,000
5,000,000
810,000
710,000
4,000,000
610,000
510,000
3,000,000
410,000
2,000,000
310,000
210,000
1,000,000
110,000
10,000
0
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Total traded
volume (MMUS$)
442,275
478,272
605,090
624,226
692,686
750,054
843,709
826,847
936,968
947,497
Total
trades
1,831,852
2,233,227
2,810,754
2,776,482
3,125,058
3,980,773
4,522,334
4,504,716
4,870,245
5,120,083
114%
GROWTH IN TRADED VOLUME
OVER LAST TEN YEARS.
TOTAL TRADES
TOTAL TRADED VOLUME (MMUS$)
910,000
CAPITAL RAISED IN THE PAST 10 YEARS IPO VERSUS DEMAND
10,000
70
62
9,000
AMOUNTS (MMUS$)
50
7,000
6,000
40
5,000
30
4,000
22
3,000
20
16
2,000
8
1,000
8
9
6
8
10
6
5
5
2
BID-TO-COVER RATIO
(AMOUNT BID / AMOUNT PLACED)
60
8,000
5
1,5
3
Amount Bid
Amount claced
MOLLER
E IZQUIERDO
ILC
HORTIFRUT
INGEVEC
CRUZ BLANCA
AUSTRALIS
AQUACHILE
CFR
CAMANCHACA
CRUZADOS
HITES
ENJOY
AZUL AZUL
0
SOCOVESA
0
Bid-to-cover ratio (amount bid / amount placed)
INVESTOR SEGMENTATION FROM THE LAST 15 IPOs
100%
NIMS
RELATED TO ISSUER
90%
RETAIL
80%
FOREIGN
70%
INSTITUTIONAL
AFP (PENSION FUND ADMINISTRATOR)
60%
%
50%
40%
30%
20%
10%
SOCOVESA
AZUL AZUL
ENJOY
HITES
CRUZADOS
CAMANCHACA
CFR PHARMACEUTICALS
AUSTRALIS SEAFOODS
AQUACHILE
CRUZ BLANCA SALUD
INGEVEC
HORTIFRUT
ILC
ECHEVERRÍA IZQUIERDO
MOLLER
0%
2014 Annual Report
89
INTERNATIONAL INDicES 2014
70%
ANNUAL VARIATION (%)
60%
50%
40%
30%
20%
10%
0%
-10%
-20%
Annual
Variation (%)
IPSA
Chile
DOW-JONES
NASDAQ
NY
FTSE 100
Hong Kong
IBEX
Madrid
BOVESPA
Londres
NIKKEI
Tokio
XETRA-DAX
NY
Frankfurt
Brasil
IGBVL
Perú
Argentina
IGBC
Colombia
IPC
México
4,10%
9,11%
15,16%
-2,74%
7,12%
1,10%
3,81%
2,65%
-2,91%
-5,98%
59,14%
-11,35%
0,04%
HANG SENG
MERVAL
MARKET CAPITALIZATION AND NUMBER OF LISTED COMPANIES 2005 - 2014
350,000
300
300,000
275
250,000
250
200,000
225
200
150,000
175
100,000
150
50,000
125
100
0
Market
Capitalization (MMUS$)
Number of
Listed Companies
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
157,964
204,793
216,785
161,135
226,602
300,741
252,771
266,026
239,935
233,042
245
244
238
235
232
227
229
225
227
230
230
THE NUMBER OF EQUITY ISSUERS LISTED ON Santiago STOCK EXCHANGE.
NUMBER OF COMPANIES
MARKET CAPITALIZATION (MMUS$)
CAPITALIZACIÓN BURSÁTIL Y NÚMERO DE COMPAÑÍAS LISTADAS 2005-2014
THE 10 MOST TRADED STOCKS IN 2014
7.55% 6.81%
CHILE
FALABELLA
6.27%
LAN
5.74%
ENERSIS
4.54%
CENCOSUD
4.21%
ENDESA
51.50%
4.19%
Others
COPEC
4.04%
BSANTANDER
2.63%
CORPBANCA
2.51%
CMPC
TOTAL TRADED VOLUME BY BOND FAMILY 2014
10,000,000,000
9,000,000,000
8,000,000,000
MUS$
7,000,000,000
6,000,000,000
5,000,000,000
4,000,000,000
3,000,000,000
2,000,000,000
1,000,000,000
LH (MUS$)
BE (MUS$)
BC (MUS$)
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
86,126,491
9,972,234
7,717,108
8,314,465
6,457,502
5,137,216
7,222,479
10,368,409
11,827,818
4,900,094
4,505,209
6,163,768
2,935,107,512
2,510,550,399
3,604,944,346
3,987,204,266
3,372,530,476
4,342,172,819
3,714,007,551
4,049,601,246
4,443,023,308
4,098,716,085
3,630,131,383
3,337,728,256
6,341,660,264
4,719,458,055
7,141,162,210
5,935,517,280
6,488,613,181
4,394,922,292
6,983,889,258
7,474,737,628
9,199,985,807
7,478,525,007
5,074,917,636
6,133,894,881
2014 Annual Report
91
LEADERSHIP IN
THE SECURITIES
MARKET
CHAPTER SEVEN
MARKET SNAPSHOT
MARKET CAPITALIZATION AND BOOK VALUE
YEAR
NUMBER OF COMPANIES
MARKET CAPITALIZATION
(MMUS$)
1995
282
98,160
46,083
2.13
1996
290
86,615
56,428
1.53
1997
294
92,220
59,971
1.54
1998
287
68,454
64,864
1.06
1999
283
98,532
67,895
1.45
2000
260
90,371
71,850
1.26
2001
249
92,877
72,770
1.28
2002
245
83,156
76,524
1.09
2003
239
123,082
79,263
1.55
2004
239
152,477
83,209
1.83
2005
245
157,964
88,336
1.79
2006
244
204,793
94,662
2.16
2007
238
216,785
97,651
2.22
2008
235
161,135
112,202
1.44
2009
232
226,602
119,895
1.89
2010
227
300,741
125,696
2.39
2011
229
252,771
129,292
1.96
2012
225
266,026
132,296
2.01
2013
227
239,935
146,458
1.64
2014
230
233,042
156,616
1.49
(1)
BOOK VALUE
(MMUS$)
(2)
MARKET CAP/BOOK VALUE RATIO
Note: Figures expressed in millions of dollars using the “observed dollar” exchange recorded at the last day of 2014.
(1) Corresponds to the sum of the market capitalizations (calculated by multiplying the number of outstanding shares by the closing price) of each of
the companies listed on the Santiago Stock Exchange as of the last trading day of each year.
(2) Corresponds to the sum of the book values of each of the companies listed on the Santiago Stock Exchange as of the last trading day of each year,
as reported in the most recent financial statements available as of December 31 of each year, adjusted to reflect variations in the inflation rate (CPI)
and capital variations (dividends, share issuances, stock swaps, etc.).
93
TOTAL TRADED VOLUME BY MARKET
1995-2014
YEAR
EQUITY
(%)
INVESTMENT
(%)
FUND
MONEY
(%)
MARKET
FIXED
(%)
CURRENCY
(%)
FUTURES
(%)
OPTIONS
(%)
TOTAL
INCOME
SHARES
1995
14,661
6.76
1996
10,922
4.01
1997
9,186
2.87
1998
5,706
1.30
1999
9,352
2.83
2000
8,614
2.66
2001
6,765
1.72
2002
5,936
1.56
2003
10,794
3.22
2004
17,136
4.73
2005
24,037
5.43
2006
34,107
7.13
2007
53,109
8.78
2008
37,780
6.05
2009
40,672
5.87
2010
53,091
7.08
2011
50,175
5.95
2012
39,808
4.81
2013
2014
39,947
32,319
4.26
3.41
427
101
95
13
2
47
89
62
178
264
213
783
1,815
1,257
761
1,091
914
1,004
913
1,823
FOREIGN
SECURITIES
(US$)
0.20
79,563
36.69
107,582
49.61
14,608
6.74
0
0.00
36
0.00
216,840
0.04
143,517
52.63
102,065
37.43
16,088
5.90
0
0.00
0
0.00
272,693
0.03
174,981
54.72
109,525
34.25
25,982
8.13
0
0.00
0
0.00
319,769
0.00
251,266
57.32
117,158
26.73
64,201
14.65
0
0.00
0
0.00
438,344
0.00
183,173
55.50
67,041
20.31
70,478
21.35
0
0.00
0
0.00
330,046
0.01
185,294
57.24
62,275
19.24
67,511
20.85
0
0.00
0
0.00
323,742
1,178,100
0.02
197,735
50.17
100,737
25.56
88,799
22.53
0
0.00
0
0.00
394,126
1,038,010
0.02
185,895
48.90
114,327
30.07
73,951
19.45
0
0.00
0
0.00
380,172
0
0.05
138,354
41.31
123,688
36.93
61,921
18.49
0
0.00
0
0.00
334,936
0
0.07
123,045
33.99
165,894
45.82
55,701
15.39
1
0.00
0
0.00
362,041
0
0.05
190,251
43.02
164,927
37.29
62,843
14.21
4
0.00
0
0.00
442,275
0
0.16
242,311
50.66
131,530
27.50
69,540
14.54
0
0.00
0
0.00
478,272
24,142,707
0.30
288,543
47.69
155,362
25.68
106,261
17.56
0
0.00
0
0.00
605,090
10,643,811
0.20
319,788
51.23
170,874
27.37
94,527
15.14
0
0.00
0
0.00
624,226
95,645
0.11
342,029
49.38
200,763
28.98
108,460
15.66
0
0.00
0
0.00
692,686
1,574,701
0.15
380,529
50.73
172,112
22.95
143,232
19.10
0
0.00
0
0.00
750,054
75,286,281
0.11
409,641
48.55
206,423
24.47
176,557
20.93
0
0.00
0
0.00
843,709
53,697,295
0.12
438,200
53.00
147,831
17.88
200,004
24.19
0
0.00
0
0.00
826,847
68,597,991
0.00
0
0.00
0
0.00
947,497
0,00
526.017
0.10
0.19
481,316
464,106
51.37
48.98
170,546
208,760
18.20
22.03
244,246
26.07
0
240,490
25.38
0
0.00
99.270
18,87
0
0,00
936,968
138,237,934
189,051,705
ANNUAL AVERAGE
1995 - 2014
25.206
4,79
593
0,11
260.977
49,61
139.971
26,61
0
51.231.289
Note: Figures expressed in millions of dollars using the “observed dollar” exchange recorded at the last day of 2014.
TOTAL TRADED VOLUME BY MARKET AND TYPE OF INSTRUMENT
2014
INSTRUMENT/MONTH
JANUARY
FEBRUARY
MARCH
APRIL
MAY
JUNE
20,869
17,285
22,366
19,992
17,775
17,720
1
1
0
0
0
0
20,870
17,285
22,366
19,992
17,775
17,720
SOCIAL SECURITY BONDS (BR)
85
51
115
58
62
95
CENTRAL BANK BONDS ADJUSTED BY
INFLATION
29
9
5
58
25
1
CENTRAL BANK BONDS IN CHILEAN
PESOS
1,723
967
1,436
748
1,171
842
CENTRAL BANK BONDS INDEXED TO THE
INFLATION RATE
2,279
1,826
2,748
2,323
2,302
1,598
TREASURY BONDS IN CHILEAN PESOS
2,223
1,303
1,700
3,353
2,693
2,462
TREASURY BONDS INDEXED TO THE
INFLATION RATE
2,686
2,298
3,735
2,848
4,045
2,031
MINVU LEASING BONDS
5
4
6
4
6
5
CENTRAL BANK ZERO COUPON BONDS
7
40
48
11
33
6
MORTGAGE BONDS
167
56
45
56
75
76
LEASING BONDS
150
181
148
192
105
114
BANK BONDS
3,881
3,604
4,422
4,467
4,334
5,191
CORPORATE BONDS
3,502
2,609
3,196
3,726
3,055
3,610
16,739
12,949
17,604
17,845
17,905
16,029
3,970
2,566
2,445
2,167
2,349
2,006
0
0
0
0
0
0
3,970
2,566
2,445
2,167
2,349
2,006
29,048
26,243
30,912
32,020
31,874
30,111
9,847
8,679
9,939
6,642
8,339
7,900
38,895
34,923
40,851
38,662
40,214
38,011
112
68
88
103
127
145
80,586
67,791
83,354
78,769
78,370
73,911
13,603,377
5,601,117
10,719,625
15,660,511
22,692,068
15,678,688
1,525,922
1,958,277
3,828,353
2,912,640
2,262,183
1,757,931
12,024,172
3,426,324
6,139,049
10,911,693
20,257,962
13,861,897
53,283
216,516
752,223
1,836,178
171,923
58,860
US DOLLAR
GOLD AND SILVER COINS
TOTAL CURRENCY
TOTAL FIXED INCOME
LISTED SHARES
UNLISTED SHARES
TOTAL EQUITIES
NON-INDEXED NOTES
INDEXED NOTES
TOTAL MONEY MARKET
TOTAL INVESTMENT FUND QUOTAS
OVERALL TOTAL (MMUS$)
TOTAL FOREIGN SECURITIES
AND MILA (US$)
FOREIGN SHARES (US$)
ETF’S (US$)
MILA (US$)
95
JULY
AUGUST
SEPTEMBER
OCTOBER
NOVEMBER
DECEMBER
TOTAL
19,174
20,812
20,492
23,797
19,673
20,532
240,486
0
0
1
0
0
0
4
19,174
20,813
20,492
23,797
19,673
20,532
240,490
73
78
70
130
100
97
1,013
13
32
15
2
8
6
204
1,404
1,392
1,816
1,535
840
767
14,641
2,205
1,632
1,829
1,586
1,407
1,356
23,091
3,097
2,857
3,010
2,840
1,920
2,628
30,087
2,619
3,546
4,848
3,790
2,564
3,293
38,303
3
1
2
5
4
2
49
37
27
54
44
31
13
350
73
71
87
83
47
99
933
162
260
62
136
18
41
1,569
4,843
5,991
5,596
6,288
5,352
5,068
59,036
3,714
3,276
3,767
2,816
2,926
3,286
39,482
18,243
19,162
21,157
19,254
15,215
16,656
208,759
2,159
2,716
2,670
2,184
5,047
2,037
32,317
0
1
0
0
0
0
1
2,159
2,717
2,670
2,184
5,047
2,037
32,319
32,541
28,884
30,038
29,639
29,635
31,680
362,626
7,107
9,070
8,001
10,473
7,820
7,661
101,480
39,649
37,954
38,038
40,112
37,456
39,341
464,106
130
128
333
105
303
183
1,823
79,354
80,774
82,691
85,452
77,693
78,750
947,497
16,122,733
12,180,905
12,662,219
25,912,747
11,641,900
30,320,097
192,795,987
3,553,840
2,553,322
1,469,108
3,506,814
2,146,811
1,947,690
29,422,891
12,458,987
9,438,305
11,079,359
22,400,068
9,491,200
28,139,798
159,628,814
109,906
189,278
113,752
5,865
3,889
232,609
3,744,282
Note: Figures expressed in millions of dollars using the “observed dollar” exchange recorded at the last day of 2014
SUMMARY OF EQUITY MARKET TRANSACTIONS
TRANSACTIONS 2014
STOCK
TRANSACTION PRICES 2014
SHARES
TRADED VOLUME
PRESENCE
SHARES
CLOSING PRICE
HIGH
LOW
CLOSING
RETURN
TRADED
(US$)
(%)
ISSUED
ON 12/30/2013
(Ch$)
(Ch$)
PRICE
(%)
12/30/2014
1
AESGENER
2
AFPCAPITAL
3
AGUAS-A
4
AGUNSA
5
ALMENDRAL
779,184,325
286,431
1,027,859,579
1,191,061
219,803,353
6
ANASAC
7
ANDACOR
3,658
8
ANDINA-A
50,005,474
9
ANDINA-B
10
ANDROMACO
11
ANTARCHILE
12
AQUACHILE
13
AUSTRALIS
14
AUSTRA-OSA
15
AXXDOS
16
AXXION
17
AZUL AZUL
18
BANMEDICA
19
BANVIDA
20
21
BBVACL
BCI
22
BESALCO
23
BETLAN DOS
24
BICECORP
25
BLUMAR
149
99,637,506
46,366
15,310,866
525,095,405
84,627,609
775,639
642,118
2,454,827
633,994
49,897,030
24,328,913
9,517
10,012,876
96,029,367
1,617,244
209,812
176,247,020
26
BLUMAR-OSA
3,324,736
27
BSANTANDER
23,594,624,173
28
BUPACL
29
30
CALICHERAA
CALICHERAB
31
CAMANCHACA
32
CAMPOS
33
CAP
497,184,416
2,789,365
51,896
780,174,707
58,513,366
48,925,487
34
CAROZZI
85,865
35
CARVILE
1,505,620
36
CASABLANCA
37
38
CCT
CCU
1,452
555,950
51,244,105
379,766,898
78,577
591,676,240
366,054
17,853,804
404
26,499
133,980,445
335,135,998
25,378
186,967,787
255,890,442
5,223,322
128
2,088
6,202
1,323,112
78,993,969
7,282,654
34,352
517,914,106
70,032,464
3,688
3,182,706
37,909,856
91,246
1,284,096,387
419,013,676
1,361,565
28,877
33,925,661
2,127,620
533,248,011
184,030
1,637
1,673
5,089,246
526,130,616
ON 12/30/2014
100.00
8,400,319
287.93
345.00
249.58
322.55
17.61
14.46
3,123,768
180.00
172.00
157.00
157.00
-4.19
100.00
5,811,029
339.38
377.90
324.90
351.31
9.41
10.88
855,097
165.01
200.00
170.00
180.00
16.22
88.76
13,539,622
57.75
57.60
45.00
48.00
-14.94
0.96
22,000
1,550.00
-
-
1,550.00
9.74
0.72
1,475
4,000.00
-
-
4,000.00
6.49
79.52
473,289
1,850.00
1,890.00
1,400.00
1,472.00
-17.98
100.00
473,289
2,412.90
2,525.00
1,705.00
1,717.00
-26.83
8.63
560,541
332.00
332.48
332.00
332.48
0.14
99.20
456,376
7,098.00
8,050.00
6,680.00
7,290.00
5.83
95.18
1,157,000
275.10
450.00
250.00
395.00
43.58
72.58
2,512,273
26.00
50.00
26.00
34.98
34.54
-
-
-
-
-
-
0.00
5.36
40,945,049
2.00
-
-
2.00
0.00
10.61
40,945,049
2.00
-
-
2.00
0.00
77.51
36,520
1,260.00
1,515.00
1,060.00
1,160.00
-7.84
91.97
804,682
1,009.30
1,219.00
870.00
1,080.00
11.14
58.02
1,430,000
180.00
213.00
150.00
200.06
14.55
2.10
393,422
2,210.00
2,208.00
2,100.00
2,100.00
-2.35
100.00
108,701
28,870.38
34,015.44
27,409.55
29,944.00
8.48
99.60
576,173
563.71
570.00
340.00
350.00
-37.28
9.43
40,946,091
-
2.80
2.80
2.80
0.00
8.79
85,087
8,550.00
9,500.00
8,550.00
9,500.00
14.24
48.59
1,408,096
103.31
176.99
107.50
172.43
66.03
-
-
-
18.00
14.00
-
0.00
100.00
188,446,127
30.46
37.50
26.56
30.33
3.83
96.79
637,650
460.21
510.00
415.00
497.03
9.48
19.51
1,815,876
443.99
420.00
224.90
319.00
-26.40
1.84
120,985
415.00
350.00
323.70
349.90
-13.45
87.45
4,150,672
19.00
35.00
18.90
32.90
73.16
59.68
934,796
21.69
25.75
20.22
21.76
7.47
100.00
149,448
9,998.30
10,094.00
2,508.00
2,682.20
-72.32
11.57
223,063
1,300.00
1,306.10
1,250.00
1,306.00
3.17
1.79
402,000,236
0.66
-
-
0.65
0.17
0.65
2,900
500.00
700.00
700.00
700.00
79.96
19.35
70,000
5,500.00
5,565.00
5,560.00
5,560.00
9.85
100.00
369,503
6,295.00
6,900.00
5,600.00
5,740.70
-6.33
Note: Traded Volume expressed in dollars using the “observed dollar” exchange recorded at the last day of 2014.
97
TRANSACTIONS 2014
STOCK
SHARES
TRADED VOLUME
PRESENCE
SHARES
CLOSING PRICE
HIGH
LOW
CLOSING
RETURN
TRADED
(US$)
(%)
ISSUED
ON 12/30/2013
(Ch$)
(Ch$)
PRICE
(%)
12/30/2014
39
CEM
316,293,324
40
CEMENTOS
3,625,053
41
CENCOSUD
508,711,690
42
CFMITNIPSA
43
CFR
44
CGE
45
CGEDISTRO
46
CHILE
47
CHILECTRA
48
CHOLGUAN
49
CIC
50
CINTAC
51
CLUBCAMPO
11,718,830
3,367,442,393
462,081,258
698
20,869,439,512
450,783
832,773
492,220,174
9,915,868
1,437
52
CLUBUNION
53
CMPC
365,613,213
54
CMPC-OSA
12,330,879
55
COLBUN
31
2,186,460,683
56
COLO COLO
11,571,023
57
COLOSO
1,685,948
58
CONCHATORO
59
60
CONSOGRAL
COPEC
61
COPEVAL
62
CORPBANCA
63
COUNTRY-A
189,675,544
223,877
112,945,416
99,510
73,307,415,412
115
64
COVADONGA
65
CRISTALES
2,133,818
66
CRUZADOS
4,481,254
67
CTC-A
68
CTC-B
69
CTC-MUNDO
70
CTISA
71
CUPRUM
72
DETROIT
73
DUNCANFOX
74
ECL
75
76
EDELMAG
EDELPA
10,518
3,350,428
296,952
56
66,626
640,603
1,598,608
210,050
321,612,669
145,374
11,779,768
76,095,469
3,133,318
1,441,851,699
61,002,074
1,031,000,834
3,456,636,029
3,680
2,399,040,862
1,135,647
545,720
12,124,604
1,691,820
56,357
17,123
798,678,232
3,544,710
518,438,801
7,113,802
908,191
350,142,758
72,204
1,332,731,886
139,832
835,229,594
8,550
5,801
14,708,922
1,336,116
2,466,278
158,791
45
104,937
38,705,265
5,555,770
169,950
400,874,912
1,022,561
3,203,759
ON 12/30/2014
37.65
299,817
47.68
149.20
49.00
149.10
275.35
60.32
264,221
554.00
635.00
500.00
510.00
-4.72
100.00
2,889,023
1,892.40
1,980.00
1,410.10
1,514.20
-19.04
89.96
4,880
3,118.00
3,340.00
2,838.00
3,150.00
3.76
91.97
8,416,842
118.00
215.00
103.50
170.00
44.07
98.80
416,710
2,840.00
4,705.00
2,150.00
4,670.00
71.41
1.28
177,982
3,220.00
3,200.00
3,200.00
3,200.00
4.48
100.00
94,655,368
74.77
75.50
64.66
70.32
-0.85
46.15
1,150,742
1,550.00
1,670.00
1,360.00
1,470.00
-3.30
34.41
369,190
398.00
400.00
398.00
398.00
2.77
34.94
1,181,420
16.99
18.36
14.38
18.00
11.72
18.47
439,817
130.00
125.97
96.99
100.00
-22.59
6.17
400
22,000.00
30,000.00
22,000.00
30,000.00
58.85
9.68
9
300,000.00
370,000.00
300,000.00
350,000.00
16.67
100.00
2,500,000
1,286.00
1,565.00
1,105.56
1,518.60
19.74
-
-
-
240.00
80.00
-
0.00
100.00
17,536,168
119.93
168.00
114.00
161.57
35.29
96.39
100,000
305.00
540.00
250.00
269.00
-11.80
24.50
195,357
340.00
360.00
288.90
355.00
13.64
100.00
747,006
986.45
1,250.00
940.50
1,186.70
22.32
1.47
68,098
200.00
196.00
195.00
196.00
-2.00
100.00
1,299,854
7,039.70
7,680.00
6,290.00
6,848.90
-0.81
3.11
31,219
850.00
881.00
850.00
881.00
11.19
100.00
340,358,194
7.25
7.85
5.87
7.28
4.60
7.50
22
41,000.00
47,000.00
41,000.00
46,000.00
12.20
2.22
23,100
335.00
335.00
335.00
335.00
9.80
56.05
64,000
4,399.00
4,650.00
3,800.00
4,290.00
0.93
69.88
60,000
200.00
210.00
160.85
180.00
-10.00
35.74
873,995
630.00
600.00
400.00
401.00
-34.73
9.13
83,162
610.00
495.00
310.00
310.00
-48.02
1.05
58,287
-
-
-
-
0.00
7.26
296,633
1,300.00
1,200.00
290.00
290.00
-77.63
50.88
17,996
36,698.00
36,705.00
36,500.00
36,500.00
1.58
7.38
119,155
2,200.00
2,200.00
2,000.00
2,200.00
1.63
14.11
100,000
500.00
520.00
480.00
510.00
9.70
100.00
1,053,310
679.03
949.99
626.00
885.00
34.95
17.00
13,081
4,400.00
4,415.00
3,900.00
4,130.00
0.08
24.10
113,590
267.00
263.00
152.90
170.00
-36.11
TRANSACTIONS 2014
STOCK
SHARES
TRADED VOLUME
PRESENCE
SHARES
CLOSING PRICE
HIGH
LOW
CLOSING
RETURN
TRADED
(US$)
(%)
ISSUED
ON 12/30/2013
(Ch$)
(Ch$)
PRICE
(%)
12/30/2014
77
78
EISA
ELECDA
79
ELECMETAL
80
ELIQSA
81
82
EMBONOR-A
EMBONOR-B
83
EMELARI
84
EMILIANA
85
ENACAR
86
ENAEX
4,419,661
477,570
252,456
150,183
3,305,492
78,528,555
261,085
28,426,959
4,386,821
1,817,643
87
ENDESA
972,847,331
88
ENERSIS
6,155,046,622
89
ENJOY
90
ENLASA
91
ENTEL
92
EPERVA
93
ESPANOLA
94
ESSBIO-C
393,192,093
1,257,572
63,973,194
6,777,054
6,899
760,846
95
ESVAL-A
219,612
96
ESVAL-C
3,018,301,067
97
EXESVAL-A
98
99
100
101
102
EXESVAL-C
FALABELLA
FASA
FEPASA
FORUS
1,836
589,327,159
283,453,208
1,503,054,438
147,817,331
61,151,482
103
FOSFOROS
1,322,732
104
FROWARD
200,276
105
GASCO
106
GENER-OSA
12,874,446
5,478,575
107
GOLF
43
108
GRANADILLA
30
109
GRANGE-A
110
GRANGE-B
5
8
111
HABITAT
128,328,045
112
HF
146,283,689
113
HIPERMARC
114
HIPICO
115
HIPODROMOA
116
HITES
11,132,813
10
49
97,301,682
1,968,825
318,983
5,812,078
65,555
4,929,238
130,054,019
72,734
1,827,785
2,422
17,167,305
1,337,849,762
1,822,627,165
42,354,628
1,656,398
709,454,249
1,126,808
27,261
10,974
2
149,991
0,1
20,141
2,163,939,102
590,315,747
1,338,528
249,640,963
2,276,662
48,889
97,190,152
396,440
1,619,913
1,334
659
257
174,110,456
118,099,440
38,162
165,399
16,135
47,708,927
ON 12/30/2014
79.12
605,365
300.00
300.00
254.26
266.00
-11.33
9.09
180,805
400.00
410.00
380.00
410.00
8.59
3.63
43,800
13,300.00
14,100.00
13,300.00
14,100.00
9.40
3.69
182,933
265.00
270.00
265.00
270.00
16.95
8.87
244,421
1,100.00
1,100.00
900.00
900.00
-13.71
95.98
266,433
1,080.00
1,180.00
884.90
903.51
-12.31
5.88
185,995
172.00
170.00
165.00
170.00
9.25
18.15
636,429
42.00
45.00
31.01
43.50
4.72
4.03
1,000,000,000
0.35
-
-
0.35
0.10
34.14
123,000
5,350.00
6,700.00
5,249.00
6,700.00
29.60
100.00
8,201,755
782.27
948.00
698.09
921.50
21.03
100.00
49,092,773
157.60
210.75
143.00
198.76
31.19
82.73
2,357,460
77.00
77.02
49.50
60.00
-20.10
7.56
46,388
800.00
801.00
800.00
800.00
4.64
100.00
236,524
7,130.60
7,520.00
6,010.00
6,096.60
-12.67
20.97
310,907
108.00
115.00
100.00
110.00
1.85
1.19
30,775
2,400.00
2,400.00
2,400.00
2,400.00
5.74
3.79
26,443,155
-
9.20
8.20
9.20
17.54
0.93
3,553,437
-
-
-
-
-
27.71
14,958,536
-
0.04
0.02
0.03
-10.99
8.00
3,553,437
0.03
-
-
0.02
-
29.27
14,958,536
0.02
0.02
0.02
0.02
-
100.00
2,434,465
4,713.00
5,150.00
3,949.90
4,071.40
-12.38
40.96
1,500,000
111.00
239.07
107.00
238.00
117.67
1.20
4,713,485
5.50
5.50
5.50
5.50
2.91
99.20
258,469
2,658.30
2,890.00
2,165.00
2,480.40
-4.42
28.98
61,500
960.00
1,210.00
940.00
1,150.00
35.78
7.21
113,238
150.00
155.00
140.00
140.00
-3.91
97.99
168,000
5,450.00
5,800.00
3,450.00
5,198.90
4.90
-
-
-
58.01
35.00
-
-
8.90
3
26,300,000.00
24,000,000.00
22,000,000.00
22,000,000.00
-16.35
0.41
63
27,000.00
27,000.00
27,000.00
27,000.00
-
1.96
4
80,000.00
80,000.00
80,000.00
80,000.00
-
2.04
122
20,000.00
19,500.00
19,400.00
19,400.00
-3.00
100.00
1,000,000
696.00
999.99
684.99
910.36
46.39
49.80
435,520
340.00
714.00
319.00
620.00
85.54
18.47
1,261,850
3.20
3.20
1.91
1.91
-40.31
3.92
1
10,000,000.00
10,200,000.00
9,500,000.00
10,200,000.00
4.04
2.88
69
200,000.00
200,000.00
200,000.00
200,000.00
0.25
99.20
377,125
370.18
387.00
200.00
210.99
-39.29
99
TRANSACTIONS 2014
STOCK
SHARES
TRADED VOLUME
PRESENCE
SHARES
CLOSING PRICE
HIGH
LOW
CLOSING
RETURN
TRADED
(US$)
(%)
ISSUED
ON 12/30/2013
(Ch$)
(Ch$)
PRICE
(%)
12/30/2014
117
118
119
120
121
122
HORNOS
IACSA
200,282,213
IANSA
1,187,177,730
ILC
INDISA
INDIVER
124
INFODEMA
125
INGEVEC
INMOBVINA
127
INTASA
128
INTEROCEAN
129
INVERCAP
130
7,991
IAM
123
126
660,736
INVERMAR
16,924,703
5,735,955
6,964,509
19,126,775
35,054,306
2
472,669
11,056,322
1,134,340
53,044,094
131
INVERNOVA
132
INVEXANS
886,849,595
133
INVEXA-OSA
777,588,970
134
INVIESPA
5,645,617
23,664
135
IPAL
136
IQUIQUE
1,182,809
137
ISANPA
8,643,427
138
LAN
139
LAS CONDES
140
LITORAL
141
142
MARBELLACC
MARINSA
806
158,014,497
1,529,119
21,291
8
57,515,182
143
MASISA
721,700,248
144
MELON
393,010,153
145
MINERA
146
MOLLER
147
MOLYMET
148
MULTIFOODS
149
NAVARINO
150
NAVIERA
3,217,126
7,431,485
3,007,050
126,144,075
1,743,423
19,891,726
151
NIBSA
152
NITRATOS
1,651,542,855
153
NORTEGRAN
4,819,411,908
154
NORTE-OSA
155
NUEVAPOLAR
156
NUEVAREG
225
3,729,067,324
748,467,119
283
1,624
1,316
299,961,889
39,303,655
208,295,168
23,207,343
4,710,002
197,867
1,316,845
445
10,521
966,936
2,253,750
3,645,488
18,230
14,043,953
13,047
47,656
1,300
14,840
28,075
1,992,553,463
107,875,797
421,486
10,866
3,328,427
30,621,087
474,496
89,869,065
3,736,892
42,572,778
24,913,253
1,291,745
529,289
3,274
806,226
16,931,264
2,316,219
59,119,346
0,5
ON 12/30/2014
2.70
1,010,386
1.50
1.50
1.50
1.50
0.00
2.15
290,730
100.00
-
-
100.00
1.00
100.00
1,000,000
892.25
970.00
836.98
940.12
12.30
98.80
3,983,887
17.52
23.00
16.36
18.20
10.66
100.00
100,000
7,400.00
8,670.10
6,400.00
7,356.40
4.35
79.12
80,575
1,905.00
2,850.00
1,909.00
2,710.00
46.60
34.14
276,236
270.01
645.00
30.00
70.00
3,066.43
7.17
899,547
7.35
7.00
6.00
6.70
-5.11
36.10
890,000
27.50
27.00
17.07
17.10
-35.14
3.57
1
135,010.00
-
-
135,010.00
-
1.42
584,630
13.70
13.70
13.70
13.70
-
29.80
914,419
38.00
61.00
28.00
58.00
52.63
67.47
149,448
1,995.00
1,996.00
767.00
786.00
-58.76
81.93
288,805
50.00
63.00
27.00
27.00
-46.00
7.39
714,876
1.60
2.00
1.70
2.00
52.93
84.74
22,422,000
9.84
10.48
6.99
9.97
1.34
-
-
-
0.01
0.01
-
-
2.60
23,100
1,300.00
1,250.00
1,150.00
1,250.00
7.90
0.43
10,993
980.00
980.00
980.00
980.00
5.81
7.11
3,606,193
8.90
10.00
6.09
10.00
12.36
16.13
4,653,965
2.00
2.00
1.95
2.00
-
100.00
545,548
8,254.50
8,879.60
6,516.10
7,064.20
-14.42
80.65
8,289
43,000.00
43,800.00
37,900.00
40,000.00
-6.98
1.68
2,500
12,500.00
12,500.00
12,000.00
12,000.00
0.84
0.81
11
800,000.00
850,000.00
800,000.00
850,000.00
6.25
22.58
2,839,055
36.00
36.00
31.00
31.00
-10.01
98.80
7,839,105
34.40
34.40
18.30
18.50
-45.52
45.27
279,453,788
0.35
1.66
0.32
0.35
-
76.71
125,000
15,900.00
16,350.00
15,900.00
16,000.00
1.59
34.84
206,884
345.00
360.00
265.00
265.00
-20.52
72.98
132,999
8,150.00
8,900.00
4,500.00
5,050.00
-37.67
96.39
1,410,666
93.10
145.00
80.00
129.80
39.42
8.30
141,869
500.00
480.00
440.00
450.00
-10.00
20.97
6,909,830
14.20
18.00
11.00
16.00
18.92
1.23
930
8,300.00
8,900.00
8,500.00
8,900.00
15.44
48.96
104,641,424
0.19
0.51
0.20
0.25
40.72
80.32
105,961,665
2.30
2.65
1.65
2.10
-4.29
-
-
-
0.49
0.20
-
67.86
100.00
998,618
69.06
77.00
23.01
28.37
-58.92
2.44
299,921
-
-
-
-
-
TRANSACTIONS 2014
STOCK
SHARES
TRADED VOLUME
PRESENCE
SHARES
CLOSING PRICE
HIGH
LOW
CLOSING
RETURN
TRADED
(US$)
(%)
ISSUED
ON 12/30/2013
(Ch$)
(Ch$)
PRICE
(%)
12/30/2014
157
158
ORO BLANCO
OROBCO-OSA
159
Pacífico
160
PARAUCO
161
162
PARAUC-OSA
PASUR
3,941,253,152
4,885,568,685
1,909,958
220,984,104
12,878,147
904,864
163
PAZ
164
PEHUENCHE
2,428,309
165
PILMAIQUEN
6,115,676
166
PLANVITAL
167
POLO
168
POLPAICO
169
POTASIOS-A
170
POTASIOS-B
171
PREVISION
172
PROVIDA
173
PUCOBRE-A
174
PUERTO
85,043,683
90
53
945,501
5,764,469
714,970
12,230
2,997,047
1,137,845
691,928
175
PUNTILLA
24,282
176
QUEMCHI
334,575
177
QUILICURA
178
QUINENCO
780
48,846,868
179
REBRISA-A
3,506,666
180
REBRISA-B
21,842,903
181
182
RIPLEY
SALFACORP
373,190,883
99,499,826
183
SAN PEDRO
502,597,448
184
SANTA RITA
971,553
185
SANTANA
186
SANTANGRUP
187
SCHWAGER
188
SECURITY
189
SIEMEL
190
SINTEX
191
SIPSA
192
SIXTERRA
193
SK
194
SM-CHILE A
3,956,643
281,281
2,630,370,434
271,318,789
304,529
118,862
409,163
93,233
72,617,824
7,693,639
195
SM-CHILE B
1,096,885,727
196
SM-CHILE D
9,892,150
12,784,794
1,013,930
2,936,024
374,538,678
1,172,983
9,990,602
44,821,537
14,799,651
28,492,978
3
239,545
8,687,636
332,867
121,151
11,329
16,677,363
4,647,976
524,912
123,171
301,625
492
98,785,417
3,703
23,376
207,477,542
77,420,921
3,619,504
224,405
25,170
741,077
3,798,982
87,828,487
118,094
393,143
102,173
144,986
106,806,485
1,890,020
322,372,766
2,631,907
ON 12/30/2014
71.49
131,492,625
1.90
2.42
1.54
1.90
4.75
-
-
-
0.33
0.07
-
-
21.34
145,000
1,440.00
1,440.00
800.00
875.00
-36.30
99.60
817,747
955.72
1,260.10
904.46
1,162.20
24.39
-
-
-
95.00
25.00
-
-
46.75
125,000
6,725.00
6,900.00
6,650.00
6,700.00
0.81
88.35
283,369
302.00
398.00
240.00
375.00
28.75
74.70
612,626
3,000.00
4,000.00
2,900.00
4,000.00
40.56
73.49
50,000
2,429.00
3,200.00
2,230.00
3,000.00
24.95
0.68
1,682,158
-
-
-
-
-
8.16
10
2,700,000.00
2,800,000.00
2,700,000.00
2,750,000.00
1.85
22.89
17,875
5,700.10
6,400.00
4,799.00
5,500.00
1.21
14.46
1,815,080
59.50
40.00
33.00
33.00
-40.87
1.54
120,921
103.00
103.00
103.00
103.00
2.82
4.04
382,349
550.00
562.00
562.00
562.00
21.14
82.73
331,317
3,000.00
3,690.40
2,994.00
3,300.00
13.96
28.74
129,460
3,125.00
3,125.00
2,290.70
2,300.70
-24.57
13.58
229,993
460.00
480.00
420.00
420.00
-7.35
6.17
52,335
3,101.00
3,101.00
3,000.00
3,000.00
-0.34
4.84
122,019
700.00
560.00
500.00
560.00
-20.00
1.70
20,000
390.00
-
-
390.00
1.77
93.57
1,662,760
1,325.00
1,380.00
1,100.10
1,300.00
1.73
4.12
4,086,106
0.65
0.65
0.65
0.65
-
1.03
1,172,460
0.65
0.65
0.65
0.65
-
100.00
1,936,052
379.99
390.01
286.00
294.00
-20.18
100.00
449,901
491.35
550.00
401.00
459.43
-3.17
61.63
39,969,697
3.09
5.10
3.05
5.07
70.45
8.26
1,034,572
140.00
142.20
140.00
142.20
3.71
4.93
2,589,040
3.80
4.05
3.80
4.05
12.62
10.74
781,141
1,600.00
1,610.00
1,500.00
1,605.00
7.86
95.58
12,007,251
0.81
1.25
0.65
0.90
11.11
97.99
3,228,758
177.00
244.30
175.29
215.90
27.36
20.16
362,574
230.00
266.70
210.01
219.00
21.39
22.18
25,000
2,779.50
2,700.00
1,987.00
2,000.00
-17.75
15.79
134,910
93.00
273.00
90.00
270.00
190.32
14.34
25,000
790.00
1,350.00
750.00
1,000.00
70.00
99.20
1,075,000
795.00
1,019.90
735.00
940.00
22.96
29.84
567,713
157.00
160.00
140.00
145.00
-7.64
100.00
11,000,000
180.53
187.50
167.00
179.80
1.69
73.49
429,418
163.00
171.00
152.02
162.10
1.67
101
TRANSACTIONS 2014
STOCK
SHARES
TRADED VOLUME
PRESENCE
SHARES
CLOSING PRICE
HIGH
LOW
CLOSING
RETURN
TRADED
(US$)
(%)
ISSUED
ON 12/30/2013
(Ch$)
(Ch$)
PRICE
(%)
12/30/2014
197
198
199
200
201
202
SM-CHILE E
SMSAAM
SOCOVESA
SOFRUCO
SONDA
SOPROCAL
1,684,508,222
152,562,021
230,087,533
204
SPORTFRAN
30
205
SPORTING
68
27,340,793
171,000
207
SQM-B
208
SUD AMER-A
1,244,239
209
TATTERSALL
11,951,512
210
TECHPACK
211
TECHPA-OSA
212
TELSUR
213
TRICAHUE
214
UNESPA
215
UNION GOLF
216
VAPORE-OSA
217
VAPORES
218
VENTANAS
219
VICONTO
220
VOLCAN
221
222
223
WATTS
WMTCL
ZOFRI
30,775,601
32,186
494,193,363
6,497
21,330
SOQUICOM
SQM-A
130,538,328
15,041
203
206
419,547
3,701,325
27,422,293
66,284,895
5,246,924
106,744
653,747
4,847,179
714,060,354
256,519
1,521,405
31,344,775
27,456
47,921,001
162,444
446,188
3,443,545
10,249,681
5,983
11,113
63,361
18
950,211
1,217,755,530
3,190,466,145
17,621,070
132,207,624
4,912,281
73,056
4,887,313
578,322
10,219,408
15,561,591
9,411,028
TOTAL
1,850,926
16,174,942
13,053,680
9,787,927
ON 12/30/2014
18.85
141,374
70.30
71.40
65.00
68.50
2.35
100.00
9,736,792
47.53
50.50
43.05
46.92
3.35
92.37
1,223,936
129.00
150.00
95.00
122.00
-2.57
2.46
11,000
1,400.00
1,300.00
1,290.00
1,300.00
-4.28
100.00
871,057
1,260.00
1,700.00
1,019.00
1,443.70
17.59
1.64
9,850
160.00
185.00
185.00
185.00
26.79
52.85
272,117
94.58
165.00
91.83
163.00
87.59
4.58
5
1,900,100.00
2,300,000.00
1,950,000.00
2,300,000.00
21.05
11.06
6
5,600,000.00
6,500,000.00
5,600,000.00
6,500,000.00
16.37
42.31
142,820
17,650.00
19,071.00
15,245.00
16,000.00
-4.84
100.00
120,377
13,384.00
19,594.00
12,883.00
14,743.00
15.97
8.37
5,147,416
125.00
125.51
120.00
125.50
3.45
23.39
654,575
83.00
84.00
70.50
75.00
-8.32
90.32
375,870
384.00
390.00
222.00
274.70
-28.46
-
-
-
1.50
0.20
-
0.00
6.93
225,063
155.00
256.86
145.00
256.86
66.26
10.16
33,392
1,800.00
1,830.00
1,650.00
1,830.00
7.68
5.88
20,000
335.00
330.00
330.00
330.00
5.00
5.26
2
2,190,000.00
2,500,000.00
1,690,000.00
1,690,000.00
-22.83
-
-
-
2.20
0.09
-
-
100.00
19,469,373
26.40
34.31
20.72
22.86
-22.12
33.47
1,202,880
140.00
175.80
140.00
171.20
26.99
7.41
720,000
9.40
9.10
9.00
9.10
1.62
13.81
75,000
2,025.00
2,025.00
1,840.00
1,840.00
-5.16
46.59
315,166
880.00
1,080.00
857.17
959.00
11.85
33.61
6,520,000
450.00
510.25
450.00
510.00
14.33
82.73
220,569
640.00
700.00
545.00
589.00
-2.77
19,295,614,016,619
NOTES
STOCK: Market name for shares of companies listed on the Santiago
Stock Exchange as of December 30, 2014.
SHARES TRADED: Total number of shares traded during 2014, adjusted for capital variations when applicable.
TRADED VOLUME (US$): Annual traded volume per stock, expressed in dollars using the “observed dollar” exchange recorded
at the last day of 2014
PRESENCE (%): Number of days on which trades occurred, expressed as a percentage of total trading days in 2014.
SHARES ISSUED AS OF 12/30/2014 (THOUSANDS): Number of
outstanding shares reported by the company.
CLOSING PRICE ON 12/30/2013: Official closing price recorded on
the last trading day in 2013. Companies with a hyphen had no closing price on that date or entered the market during 2014.
HIGH (Ch$): This is the highest share price recorded in 2014, adjusted
for capital variations when applicable. Companies with a hyphen had
no transactions in 2014.
LOW (Ch$): This is the lowest share price recorded in 2014, adjusted
for capital variations when applicable. Companies with a hyphen had
no transactions in 2014.
CLOSING PRICE ON 12/30/2014: Official closing price recorded on
the last trading day in 2014. Companies with a hyphen had no closing
price on that date.
RETURN (%): The gain or loss on an investment in a stock during the
period from January 2 to December 30, 2014, assuming that it is purchased at the beginning of the period and sold at the end, and considering rights issues, dividend reinvestments, capital distributions and
price variations during the period. These returns become effective to
the extent that the stock has sufficient market liquidity (presence) in
order to be purchased and sold at the right time.
DIVIDENDS AND CAPITAL DISTRIBUTIONS IN CASH
MONTH
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
JAN
312,176
310,176
449,906
572,826
605,046
401,308
672,102
496,739
411,259
492,609
FEB
67,815
89,846
89,972
254,147
131,576
175,861
239,260
1,000,822
27,173
35,914
MAR
471,006
566,028
413,259
649,178
565,292
848,901
705,034
736,484
726,294
1,077,080
APR
1,226,610
994,865
1,112,767
1,518,808
1,007,786
1,541,437
1,189,167
1,078,014
1,127,802
1,078,454
MAY
2,270,900
1,857,827
2,847,864
4,486,021
4,678,813
3,815,950
4,140,866
3,512,158
3,412,254
3,143,143
JUN
489,606
377,752
224,140
264,126
307,802
424,571
127,784
99,251
105,914
109,460
JUL
139,032
116,998
380,986
324,602
162,916
380,287
181,372
433,403
86,555
289,509
AUG
83,657
334,128
168,265
175,579
192,489
177,923
161,356
1,662,672
495,780
135,384
SEP
15,196
170,801
154,758
281,139
219,532
121,322
230,529
158,827
171,028
136,311
OCT
224,529
347,961
387,057
311,008
303,690
335,679
329,814
285,953
265,124
226,342
NOV
193,130
168,548
243,524
461,015
288,756
230,653
388,263
756,447
284,513
84,915
DEC
454,529
546,945
447,827
620,274
810,395
563,531
985,606
836,967
748,959
1,205,001
5,948,185
5,881,873
6,920,324
9,918,723
9,274,094
9,017,423
9,351,155
11,057,737
7,862,656
8,014,123
AVERAGE
495,682
490,156
576,694
826,560
772,841
751,452
779,263
921,478
655,221
667,844
HIGHEST
2,270,900
1,857,827
2,847,864
4,486,021
4,678,813
3,815,950
4,140,866
3,512,158
3,412,254
3,143,143
LOWEST
15,196
89,846
89,972
175,579
131,576
121,322
127,784
99,251
27,173
35,914
TOTAL
Note: Figures expressed in thousands of dollars using the “observed dollar”
exchange recorded at the last day of 2014.
RIGHTS ISSUES AT SUBSCRIPTION VALUE
MONTH
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
JAN
2,757
270,557
7,907
338,833
177,882
54,615
8,669
1,039,457
226,053
417,464
FEB
8,478
386,349
157,400
80,863
82,013
2,042
943
391,801
39,133
10,026
MAR
1,093,642
111,821
126,668
4,522
227,674
707,553
381,563
53,094
6,399,107
460,884
APR
413,123
110,471
242,555
669,641
151,970
1,069,335
19,832
235,769
70,809
400,539
MAY
89,241
45,023
335,749
74,753
306,074
181,565
712,054
1,134
27,977
189,269
JUN
13,926
2,926
605,817
652,655
467,856
18,051
850,011
1,652,349
537,142
72,236
JUL
45,094
31,846
181,633
5,693
176,359
5,450
445,840
789,892
29,480
322,779
AUG
24,868
158,744
791,895
3,530
46,257
24,483
335,080
279,968
46,270
118,050
SEP
54,865
137,124
10,673
78,163
56,222
57,669
52,363
26,376
876,873
53,830
OCT
231,817
155,743
272,025
161,078
163,239
9,232
267,009
305,288
619,973
125,460
NOV
434,236
90,144
1,636,657
18,719
334,491
521,829
33,910
544
16,934
26,164
DEC
223,187
310,527
920,248
200,682
1,048,049
456,889
74,525
229,771
933,510
440
2,635,234
1,811,274
5,289,227
2,289,131
3,238,086
3,108,713
3,181,799
5,005,442
9,823,261
2,197,140
AVERAGE
219,603
150,939
440,769
190,761
269,841
259,059
265,150
417,120
818,605
183,095
HIGHEST
1,093,642
386,349
1,636,657
669,641
1,048,049
1,069,335
850,011
1,652,349
6,399,107
460,884
LOWEST
2,757
2,926
7,907
3,530
46,257
2,042
943
544
16,934
440
TOTAL
exchange recorded at the last day of 2014..
DAILY TRADED VOLUME IN EQUITY MARKET
103
FOR 2014
DAY
JANUARY
FEBRUARY
MARCH
1
2
133,639
3
107,685
115,524
4
5
6
APRIL
MAY
JUNE
123,102
67,885
130,613
JULY
AUGUST
SEPTEMBER
OCTOBER
80,411
73,817
57,626
99,319
84,937
131,004
131,115
73,297
119,634
84,570
89,212
130,863
52,951
133,200
141,487
81,132
136,001
97,727
103,453
95,414
31,775
88,838
135,440
76,839
296,757
128,352
60,216
136,673
100,558
85,608
137,081
102,321
92,423
98,504
95,278
105,455
78,178
7
75,918
8
98,509
9
139,564
10
291,892
109,217
71,027
89,579
126,641
127,104
88,839
97,065
67,283
166,977
70,332
97,560
NOVEMBER
DECEMBER
100,468
109,537
85,903
128,427
73,679
76,855
98,559
70,811
88,431
87,712
100,615
51,244
129,749
77,325
96,586
112,725
87,399
76,481
102,733
130,521
79,480
171,604
79,728
72,872
87,747
11
122,591
120,578
88,021
71,682
61,026
73,852
132,984
12
114,862
158,601
79,369
85,026
673,189
87,798
117,300
104,420
90,325
99,529
106,335
104,941
67,328
102,542
14
101,910
71,760
105,867
15
149,980
16
132,722
17
99,938
13
35,359
66,152
18
118,873
99,128
19
71,293
75,431
20
40,808
90,057
89,827
21
129,160
50,737
209,576
165,900
81,082
121,601
115,600
114,547
115,272
139,939
85,631
116,089
133,205
171,295
77,201
72,119
120,774
109,547
80,226
54,472
83,170
109,072
63,464
154,542
24
148,563
74,119
105,033
84,116
25
370,113
107,435
71,421
26
124,625
94,552
122,130
166,867
115,635
202,933
87,045
131,000
150,425
171,002
94,408
75,658
163,150
203,602
130,980
91,904
134,302
22
27
111,447
90,949
23
28
124,292
134,806
45,699
78,702
95,855
92,282
382,600
31
113,452
68,429
109,428
128,469
177,622
127,078
99,295
149,387
79,690
156,415
72,654
91,855
89,298
134,468
230,206
110,957
78,345
137,341
98,073
60,758
124,083
70,058
125,145
73,367
60,803
64,983
56,256
143,521
169,695
143,081
98,186
257,079
111,490
3,200,335
110,649
117,460
946,309
106,325
69,322
61,279
29
107,497
66,115
59,248
30
97,396
74,480
96,009
131,047
100,542
105,062
88,359
130,331
105,649
73,189
97,973
107,311
55,176
33,362
76,712
99,935
75,854
87,370
122,055
163,883
122,594
62,315
39,708
755,474
104,959
73,041
108,129
86,742
59,326
96,364
LOWEST TRADING VOLUMEN FOR THE MONTH
40,808
35,359
52,951
45,699
59,248
51,244
31,775
67,283
57,626
55,176
33,362
39,708
209,576
166,977
382,600
141,487
230,206
673,189
755,474
171,295
3,200,335
171,604
123,378
112,941
100,768
115,048
93,569
96,387
133,866
132,716
99,657
253,368
101,866
3,857,823
6,304,286
8,663,592
10,776,644
13,071,207
15,034,870
17,156,993
19,832,470
22,483,085
24,687,186
29,740,602
2,467,567
2,371,762
2,116,119
2,300,968
1,964,958
2,120,517
2,677,314
2,654,319
2,192,464
5,067,362
2,037,318
8,638,400
10,754,520
13,055,487
15,020,445
17,140,961
19,818,275
22,472,594
24,665,058
29,732,420
31,769,738
HIGHEST TRADING VOLUMEN FOR THE MONTH
946,309
370,113
DAILY AVERAGE FOR THE MONTH
172,685
DAILY AVERAGE FOR THE YEAR
172,685
MONTHLY TOTAL
3,799,072
ACCUMULATED ANNUAL TOTAL
3,799,072
6,266,638
HIGHEST TRADED VOLUMES
LOWEST TRADED VOLUMES
11/17/2014
3,200,335
07/04/2014
31,775
01/29/2014
946,309
11/27/2014
33,362
09/29/2014
755,474
02/17/2014
35,359
Note: Figures expressed in thousands of dollars using the “observed dollar” exchange recorded at the last day of 2014.
SELECTIVE STOCK PRICE INDEX (IPSA)
12-30-2014
SYMBOL
AESGENER
AGUAS-A
ANDINA-B
MARKET CAPITALIZATION
(MMUS$)
WEIGHT (%)
1,333
2.01
1,771
2.67
681
1.03
ANTARCHILE
1,447
2.18
BANMEDICA
632
0.95
BCI
BESALCO
BSANTANDER
2,271
3.42
135
0.20
3,222
4.85
314
0.47
CAP
468
0.70
CCU
1,377
2.07
BUPACL
CENCOSUD
CFR
CGE
2,832
4.26
640
0.96
1,128
1.70
2,379
3.58
CMPC
2,685
4.04
COLBUN
2,390
3.60
887
1.34
CHILE
CONCHATORO
COPEC
5,854
8.81
CORPBANCA
2,358
3.55
750
1.13
ECL
EMBONOR-B
205
0.31
ENDESA
5,117
7.70
ENERSIS
6,682
10.06
ENTEL
1,109
1.67
3,049
4.59
FORUS
367
0.55
IAM
716
1.08
ILC
420
0.63
LAN
4,626
6.96
PARAUCO
1,029
1.55
454
0.68
223
0.34
FALABELLA
RIPLEY
SALFACORP
SECURITY
SK
SM-CHILE B
1,063
1.60
410
0.62
1,388
2.09
SMSAAM
493
0.74
SONDA
1,129
1.70
SQM-B
VAPORES
TOTAL
2,090
3.15
326
0.49
66,451
Note: Figures expressed in thousands of dollars using the “observed
dollar” exchange recorded at the last day of 2014.
SELECTIVE STOCK PRICE INDEX (IPSA) 2014
DAY
JANUARY
FEBRUARY
MARCH
1
APRIL
MAY
JUNE
3,794.62
2
3,694.33
3
3,698.60
3,809.86
105
JULY
3,871.02
3,929.85
3,407.26
3,703.81
3,766.41
3,916.96
3,887.55
5
3,408.89
3,715.81
3,907.00
3,891.53
7
3,673.68
3,485.41
3,697.79
8
3,901.15
3,941.88
3,940.35
3,940.62
4,071.26
3,908.46
3,968.12
3,936.37
3,923.37
3,948.68
3,890.30
3,933.41
3,888.07
3,882.17
3,906.73
3,689.76
3,822.19
3,910.93
3,920.66
3,894.46
9
3,645.12
3,863.92
3,904.06
10
3,620.46
3,912.01
3,974.34
3,501.00
3,652.51
3,853.95
3,929.53
3,967.36
11
3,548.88
3,659.30
3,868.35
3,906.91
3,974.45
12
3,605.45
3,623.29
3,920.17
3,956.33
3,603.95
3,630.76
14
3,615.22
3,666.48
3,611.65
15
3,890.77
3,924.05
3,990.97
3,921.62
3,802.56
3,863.13
3,952.77
3,858.49
3,931.80
3,955.38
3,846.23
3,919.85
3,964.22
16
3,673.00
3,912.24
3,969.38
17
3,704.44
19
3,641.25
3,638.80
3,841.28
3,827.68
3,946.67
3,869.30
3,945.35
3,935.28
3,893.56
3,881.35
3,870.20
20
3,686.68
3,641.09
3,656.05
21
3,679.77
3,626.69
3,633.20
22
3,700.08
3,878.50
3,925.31
23
3,673.23
3,871.61
3,960.06
24
3,597.98
3,887.86
3,947.96
3,975.15
3,810.23
3,999.34
3,808.67
3,798.47
3,820.58
3,972.79
3,822.55
3,697.14
3,959.01
3,930.02
3,391.31
3,808.53
3,816.88
3,675.28
3,439.41
3,933.64
3,962.28
26
31
3,953.56
3,921.98
3,918.79
30
3,779.19
3,879.98
3,893.83
3,393.31
3,921.98
3,950.01
3,823.65
29
3,760.74
3,931.12
3,707.74
3,759.79
4,028.55
3,976.18
3,633.78
3,718.88
3,751.51
3,988.04
25
3,487.00
3,778.03
3,757.11
3,929.51
28
3,994.00
3,794.50
3,902.03
3,742.36
3,752.89
3,969.36
3,869.16
3,689.01
3,791.28
3,978.00
3,658.94
3,520.82
3,968.13
3,936.83
3,640.44
27
3,831.91
3,859.57
3,947.20
3,673.62
4,067.05
3,911.27
3,825.33
3,877.49
3,648.03
3,884.81
3,891.37
3,650.07
18
4,062.51
3,890.44
3,964.81
3,895.63
3,913.52
4,025.73
3,964.09
3,631.28
4,060.05
3,926.35
3,893.51
3,671.70
3,948.27
4,086.33
3,903.68
3,618.80
3,901.14
3,934.93
3,778.26
13
3,948.93
3,924.31
4
DECEMBER
3,958.49
4,094.65
3,893.48
NOVEMBER
3,882.16
3,872.52
3,914.19
3,730.39
OCTOBER
4,012.06
4,055.10
3,793.64
3,446.99
SEPTEMBER
3,887.72
3,661.64
3,694.99
3,904.93
3,891.19
3,393.27
6
AUGUST
3,972.04
3,945.78
3,976.17
3,975.86
3,886.91
3,951.44
3,968.61
3,962.08
3,874.47
3,973.31
3,794.83
3,981.07
3,792.22
3,991.78
3,812.86
3,929.30
3,918.56
3,963.78
3,846.91
3,944.21
3,914.86
3,996.63
3,909.64
3,903.81
3,875.73
3,772.76
3,906.37
3,812.14
3,818.48
3,943.88
3,804.90
3,854.41
3,943.56
3,850.97
3,850.96
3,875.44
LOW FOR THE MONTH
3,391.31
3,393.27
3,611.65
3,766.41
3,881.35
3,827.68
3,871.02
3,894.46
3,943.56
3,757.11
3,888.07
3,751.51
3,718.88
3,772.76
3,912.24
3,969.38
3,940.35
3,974.45
3,996.63
4,094.65
3,948.68
3,991.78
3,968.12
3,582.69
3,678.98
3,849.06
3,928.63
3,891.26
3,924.24
3,944.67
4,014.15
3,839.49
3,936.10
3,851.09
3,600.04
3,626.35
3,682.03
3,729.45
3,756.63
3,781.72
3,801.23
3,824.00
3,825.63
3,835.28
3,836.55
HIGH FOR THE MONTH
3,704.44
MONTHLY AVERAGE
3,615.82
ANNUAL AVERAGE
3,615.82
HIGHS FOR THE YEAR
LOWS FOR THE YEAR
4,094.65
9/3/2014
3,391.31
1/30/2014
4,086.33
9/4/2014
3,393.27
2/3/2014
4,071.26
9/5/2014
3,611.65
3/14/2014
Note: Base 1,000 = December 30, 2002.
SELECTIVE STOCK PRICE INDEX (IPSA)
NOMINAL VALUES, LAST DAY OF EACH MONTH
MONTH
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
JAN
1,809.88
2,118.46
2,895.28
2,788.34
2,549.46
3,808.96
4,673.07
4,260.76
4,552.40
3,439.41
FEB
1,895.20
2,166.84
2,811.62
2,836.83
2,468.63
3,827.44
4,444.57
4,535.60
4,558.46
3,718.88
MAR
1,961.69
2,181.96
2,929.00
2,902.02
2,478.94
3,763.12
4,624.47
4,671.28
4,432.14
3,772.76
APR
1,956.98
2,201.56
3,161.22
2,989.41
2,670.78
3,865.45
4,822.50
4,585.77
4,292.14
3,909.64
MAY
1,968.78
2,156.53
3,279.53
3,048.85
3,100.42
3,886.86
4,847.87
4,318.16
4,191.26
3,903.81
JUN
2,056.84
2,126.02
3,470.18
2,999.90
3,090.50
4,065.29
4,795.28
4,400.10
4,029.67
3,875.73
JUL
2,175.06
2,131.58
3,340.43
3,014.80
3,226.20
4,364.15
4,425.99
4,227.56
3,732.54
3,875.44
AUG
2,086.25
2,206.37
3,310.14
2,895.21
3,175.18
4,525.01
4,288.32
4,155.68
3,628.73
3,996.63
SEP
2,152.82
2,280.48
3,249.00
2,753.31
3,372.87
4,795.38
3,888.58
4,230.42
3,823.85
3,943.56
OCT
2,072.64
2,380.26
3,451.18
2,489.59
3,314.45
4,912.53
4,327.25
4,266.35
3,912.44
3,850.97
NOV
2,027.61
2,559.67
3,204.47
2,406.26
3,255.32
4,956.96
4,161.29
4,139.99
3,789.06
3,991.78
DEC
1,964.47
2,693.22
3,051.83
2,376.42
3,581.42
4,927.53
4,177.53
4,301.38
3,699.19
3,850.96
ANNUAL
AVERAGE
2,001.46
2,225.35
3,150.56
2,756.66
3,000.40
4,257.20
4,452.12
4,328.29
4,065.64
3,836.55
ANNUAL %
CHANGE
9.35
37.10
13.32
-22.13
50.71
37.59
-15.22
2.96
-14.00
4.10
AVERAGE %
CHANGE
28.22
11.19
41.58
-12.50
8.84
41.89
4.58
-2.78
-6.07
-5.63
NOMINAL VALUES, MONTHLY AVERAGE
MONTH
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
JAN
1,758.34
2,058.38
2,784.41
2,732.66
2,495.32
3,752.01
4,885.49
4,219.67
4,469.84
3,615.82
FEB
1,836.62
2,127.37
2,973.30
2,843.54
2,593.38
3,802.87
4,497.46
4,451.49
4,569.80
3,582.69
MAR
1,929.73
2,159.25
2,897.53
2,826.14
2,358.88
3,779.24
4,465.24
4,582.47
4,477.45
3,678.98
APR
1,975.66
2,181.91
3,077.01
2,983.66
2,626.68
3,828.90
4,718.32
4,576.49
4,309.53
3,849.06
MAY
1,963.88
2,181.00
3,214.43
2,984.61
2,969.19
3,828.05
4,827.89
4,369.63
4,258.83
3,928.63
JUN
2,037.79
2,084.57
3,366.81
3,040.39
3,157.38
3,997.25
4,730.42
4,312.74
3,989.85
3,891.26
JUL
2,106.77
2,101.41
3,387.27
2,848.66
3,173.83
4,222.31
4,663.59
4,349.45
3,824.93
3,924.24
AUG
2,133.72
2,156.76
3,207.14
2,910.33
3,264.00
4,468.13
4,177.87
4,185.94
3,694.50
3,944.67
SEP
2,119.40
2,227.04
3,211.64
2,774.16
3,258.17
4,726.44
4,033.30
4,181.52
3,817.48
4,014.15
OCT
2,126.45
2,349.71
3,406.88
2,319.13
3,409.43
4,783.45
4,015.32
4,263.49
3,854.40
3,839.49
NOV
2,041.67
2,475.01
3,200.26
2,500.21
3,301.86
4,972.26
4,219.75
4,185.58
3,791.08
3,936.10
DEC
1,982.73
2,646.17
3,100.90
2,334.00
3,448.51
4,942.25
4,157.94
4,232.93
3,694.46
3,851.09
2,001.46
2,225.35
3,150.56
2,756.66
3,000.40
4,257.20
4,452.12
4,328.29
4,065.64
3,836.55
ANNUAL %
CHANGE
10.16
33.46
17.18
-24.73
47.75
43.32
-15.87
1.80
-12.72
4.24
AVERAGE %
CHANGE
28.22
11.19
41.58
-12.50
8.84
41.89
4.58
-2.78
-6.07
-5.63
ANNUAL
AVERAGE
107
GENERAL STOCK PRICE INDEX (IGPA) 2014
DAY
JANUARY
FEBRUARY
MARCH
1
APRIL
MAY
JUNE
18,633.51
2
18,213.39
3
18,233.22
18,706.41
JULY
18,874.58
19,059.82
SEPTEMBER
OCTOBER
19,475.49
18,997.25
19,029.73
18,940.93
19,651.92
18,941.82
16,944.04
18,108.80
18,628.12
19,114.20
18,948.50
19,813.98
19,168.92
4
17,007.98
18,279.35
18,527.12
19,119.46
18,925.47
5
17,025.22
18,339.49
6
18,211.75
17,174.70
18,399.37
7
18,132.02
17,349.84
18,258.48
8
19,261.29
AUGUST
19,175.13
19,215.62
19,116.94
19,200.27
NOVEMBER
19,320.05
19,286.07
19,050.70
19,260.94
19,178.07
19,788.66
19,056.79
19,238.75
19,200.74
19,723.56
19,087.37
19,357.98
19,133.17
19,280.93
18,992.11
18,574.33
19,160.52
18,905.03
19,054.26
19,214.01
18,986.40
18,204.11
18,755.08
19,182.71
19,071.20
19,009.78
9
18,028.10
18,913.92
19,151.74
10
17,926.38
19,103.09
19,305.81
17,411.83
18,074.15
18,875.67
19,175.32
19,266.89
11
17,621.09
18,104.77
18,936.36
19,069.97
19,317.54
12
17,850.24
17,951.72
19,215.94
19,341.37
19,690.44
19,029.95
19,708.77
18,811.48
19,136.71
18,987.15
18,926.66
18,990.89
18,786.95
19,001.00
19,117.70
19,391.95
19,123.08
18,674.67
18,886.37
19,225.81
17,857.77
17,964.40
14
17,890.80
18,102.40
17,891.01
19,067.13
19,364.66
19,292.56
15
18,041.88
19,010.29
19,295.30
19,285.47
16
18,134.52
19,165.79
19,381.99
17
18,266.89
19,101.01
19,137.55
19,537.89
17,907.77
17,972.96
19,673.92
19,136.76
13
18,125.84
DECEMBER
19,242.80
18,795.88
18,727.13
19,208.83
18,883.79
19,209.92
18,937.44
19,155.00
18,882.66
19,109.20
19,304.15
18,655.02
18,463.32
19,409.86
18,570.97
18,443.86
19,552.93
18,510.78
19,122.00
18,542.98
18
18,007.20
18,149.52
19,239.52
19,166.89
18,697.24
19
17,977.52
18,013.02
19,254.22
18,983.32
19,229.36
19,340.35
18,692.54
19,029.89
18,903.96
19,349.69
18,526.69
19,351.96
19,178.32
19,316.90
18,689.76
19,422.44
19,150.51
19,234.94
20
18,183.68
17,976.21
18,091.78
21
18,170.50
17,937.65
18,049.07
19,079.19
22
18,248.41
19,049.52
19,201.30
23
18,131.49
19,034.86
19,336.89
24
17,815.17
25
26
19,439.43
18,744.94
18,642.49
18,936.82
19,117.40
19,294.26
18,773.51
18,733.64
19,335.49
18,763.57
17,996.71
18,148.88
19,024.06
19,022.15
19,147.91
17,964.50
18,342.49
18,840.91
18,990.43
19,104.06
19,221.19
19,340.73
19,336.98
19,368.24
19,381.71
18,141.97
18,284.40
19,337.15
18,954.00
19,231.60
27
17,493.58
18,219.65
18,441.77
19,222.73
18,899.53
19,334.22
18,643.22
19,406.83
28
17,349.86
18,342.81
18,496.74
18,643.10
19,457.82
29
16,937.63
30
16,938.43
31
17,123.06
18,788.64
19,205.72
19,100.28
19,293.28
18,930.13
19,265.50
19,099.77
19,422.77
19,186.66
19,103.01
18,899.87
18,552.57
19,069.72
18,699.09
19,326.62
18,727.92
19,239.96
18,676.53
18,878.19
19,250.93
18,842.72
18,870.41
18,945.82
LOW FOR THE MONTH
16,937.63
16,944.04
17,891.01
18,527.12
19,029.89
18,727.13
18,874.58
19,009.78
19,239.96
18,510.78
18,986.40
18,443.86
18,342.81
18,552.57
19,186.66
19,381.99
19,215.62
19,317.54
19,422.77
19,813.98
19,280.93
19,457.82
19,357.98
17,751.76
18,186.42
18,896.60
19,230.20
18,995.81
19,112.11
19,211.62
19,498.07
18,838.31
19,194.18
18,869.02
17,824.23
17,944.96
18,182.87
18,384.28
18,487.01
18,580.56
18,656.14
18,746.18
18,755.88
18,794.16
18,800.18
HIGH FOR THE MONTH
18,266.89
MONTHLY AVERAGE
17,890.12
ANNUAL AVERAGE
17,890.12
HIGHS FOR THE YEAR
19,813.98
LOWS FOR THE YEAR
9/3/2014
16,937.63
1/29/2014
19,788.66
9/4/2014
16,944.04
2/3/2014
19,723.56
9/5/2014
17,891.01
3/14/2014
Note: Base 100 = December 30, 1980.
GENERAL STOCK PRICE INDEX
NOMINAL VALUES, LAST DAY OF EACH MONTH
MONTH
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
JAN
8,864.43
9,513.40
12,988.02
12,944.07
12,114.47
17,594.65
22,248.93
20,454.09
22,167.63
17,123.06
FEB
9,178.15
9,755.40
12,844.89
13,197.15
11,879.64
17,789.25
21,229.26
21,546.22
22,219.95
18,342.81
MAR
9,413.22
9,930.98
13,312.02
13,422.24
11,861.95
17,642.67
21,871.92
22,206.86
21,698.32
18,552.57
APR
9,263.71
10,005.85
14,240.93
13,982.91
12,772.35
18,039.09
22,784.53
21,925.87
21,084.60
19,186.66
MAY
9,199.45
9,922.55
14,309.57
14,235.28
14,684.06
18,130.71
22,929.02
20,802.59
20,681.45
19,103.01
JUN
9,521.44
9,895.07
15,118.35
14,647.96
14,767.83
18,848.07
22,642.40
21,079.75
19,861.10
18,899.87
JUL
9,975.23
9,928.29
14,840.29
14,340.19
15,288.54
20,296.63
21,166.36
20,447.87
18,438.04
18,945.82
AUG
9,757.51
10,297.86
14,760.55
13,775.73
15,072.59
21,239.70
20,463.27
20,176.31
17,993.73
19,422.77
SEP
10,073.32
10,678.19
14,602.10
12,967.40
15,878.29
22,355.94
18,796.89
20,551.46
18,833.77
19,250.93
OCT
9,786.64
11,069.48
15,345.84
11,786.27
15,653.09
22,874.62
20,711.29
20,910.93
19,242.04
18,842.72
NOV
9,430.58
11,705.40
14,522.13
11,486.70
15,373.00
22,927.69
20,074.19
20,323.85
18,599.86
19,457.82
DEC
9,206.10
12,373.68
14,076.25
11,324.07
16,630.91
22,979.22
20,129.80
21,070.28
18,227.05
18,870.41
ANNUAL AVERAGE
9,438.51
10,256.61
14,126.11
13,038.39
14,207.36
19,821.11
21,233.01
20,885.35
19,993.47
18,800.18
ANNUAL %
CHANGE
2.72
34.41
13.76
-19.55
46.86
38.17
-12.40
4.67
-13.49
3.53
AVERAGE %
CHANGE
19.77
8.67
37.73
-7.70
8.97
39.51
7.12
-1.64
-4.27
-5.97
NOMINAL VALUES, MONTHLY AVERAGE
MONTH
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
JAN
8,749.00
9,381.58
12,629.68
12,812.82
11,858.40
17,328.13
23,008.24
20,317.99
21,797.52
17,890.12
FEB
8,972.15
9,574.72
13,438.24
13,190.14
12,344.98
17,640.69
21,504.81
21,181.39
22,237.68
17,751.76
MAR
9,324.45
9,832.49
13,219.53
13,140.35
11,305.68
17,651.10
21,264.86
21,781.02
21,903.58
18,186.42
APR
9,368.04
9,942.56
13,900.47
13,864.91
12,519.94
17,895.13
22,345.97
21,851.55
21,167.49
18,896.60
MAY
9,222.15
10,085.73
14,242.94
13,979.26
14,027.96
17,900.12
22,853.04
21,067.26
20,927.57
19,230.20
JUN
9,411.83
9,710.77
14,633.07
14,562.70
15,032.66
18,570.68
22,397.18
20,748.65
19,815.09
18,995.81
JUL
9,651.33
9,829.77
14,926.97
13,787.09
15,086.72
19,571.74
22,165.14
20,898.90
18,972.08
19,112.11
AUG
9,883.83
10,042.51
14,378.10
13,873.54
15,444.95
20,886.29
20,024.51
20,272.93
18,288.66
19,211.62
SEP
9,886.72
10,436.71
14,452.35
13,146.70
15,393.81
22,114.62
19,420.68
20,331.65
18,781.34
19,498.07
OCT
9,980.17
10,937.30
15,242.25
11,125.75
16,028.80
22,334.23
19,335.25
20,820.91
18,973.61
18,838.31
NOV
9,529.64
11,420.83
14,424.24
11,856.56
15,569.18
23,031.78
20,300.70
20,545.23
18,676.94
19,194.18
DEC
9,270.66
12,087.93
14,132.08
11,189.05
16,093.75
22,999.69
20,038.25
20,733.83
18,203.69
18,869.02
ANNUAL
AVERAGE
9,438.51
10,256.61
14,126.11
13,038.39
14,207.36
19,821.11
21,233.01
20,885.35
19,993.47
18,800.18
ANNUAL %
CHANGE
3.33
30.39
16.91
-20.83
43.83
42.91
-12.88
3.47
-12.20
3.65
AVERAGE %
CHANGE
19.77
8.67
37.73
-7.70
8.97
39.51
7.12
-1.64
-4.27
-5.97
109
MARKET CAPITALIZATION WEIGHTED INDICES
FREE-FLOAT
LARGE
FREE-FLOAT ADJUSTED
WEIGHT
MARKET CAP (MMUS$)
(%)
ADJUSTED
MID
MARKET CAP
(MMUS$)
CHILEAN
PESO
SMALL
(%)
FREE-FLOAT ADJUSTED
MARKET CAP (MMUS$)
CHILEAN
PESO
(%)
AESGENER
1,333
2.74
AGUAS-A
1,771
11.88
ALMENDRAL
243
2.53
ANTARCHILE
1,447
2.97
ANDINA-B
681
4.57
AQUACHILE
255
2.66
BCI
2,271
4.66
BANMEDICA
632
4.24
BANVIDA
96
1.00
BSANTANDER
3,222
6.61
CAP
468
3.14
BESALCO
135
1.41
CCU
1,377
2.83
CFR
640
4.30
CENCOSUD
2,832
5.81
CGE
1,128
7.57
CHILE
2,379
4.88
COLBUN
2,390
16.03
BUPACL
314
3.27
CONCHATORO
887
9.25
CUPRUM
70
0.73
CMPC
2,685
5.51
ENTEL
1,109
7.44
ECL
750
7.82
COPEC
5,854
12.02
GASCO
686
4.60
EMBONOR-B
205
2.14
CORPBANCA
2,358
4.84
IAM
716
4.80
ENJOY
80
0.83
5,117
10.50
MINERA
508
3.41
FORUS
367
3.83
ENERSIS
6,682
13.72
MOLYMET
733
4.92
HABITAT
544
5.67
FALABELLA
3,049
6.26
PEHUENCHE
313
2.10
HITES
54
0.56
LAN
4,626
9.50
PROVIDA
903
6.06
IANSA
73
0.76
SM-CHILE B
1,388
2.85
QUINENCO
688
4.62
ILC
420
4.38
SQM-B
2,090
4.29
SK
410
2.75
INVERCAP
153
1.60
SONDA
1,129
7.58
INVEXANS
42
0.43
LAS CONDES
478
4.98
MASISA
80
0.83
MULTIFOODS
105
1.10
ENDESA
NORTEGRAN
95
0.99
NUEVAPOLAR
42
0.44
1,029
10.73
PARAUCO
PAZ
190
1.98
RIPLEY
454
4.74
223
2.33
1,063
11.08
SMSAAM
493
5.14
SOCOVESA
120
1.25
15
0.15
SECURITY
TATTERSALL
48,710
TOTAL
14,906
1.12
PILMAIQUEN
SALFACORP
TOTAL
108
TRICAHUE
83
0.87
VAPORES
326
3.40
TOTAL
9,592
Note: Figures expressed in millions of dollars using the
“observed dollar” exchange recorded at the last day of 2014.
SECTOR INDICES
12/30/2014
BANKING
MARKET CAP
(MMUS$)
FREE-FLOAT
(%)
FREE-FLOAT ADJUSTED
MARKET CAP (MMUS$)
CHILEAN PESO
(%)
BCI
5,582
40.69
2,271
20.11
BSANTANDER
9,816
32.82
3,222
28.53
CHILE
11,603
20.50
2,379
21.06
CORPBANCA
4,254
55.43
2,358
20.88
1,182
89.90
1,063
9.41
SECURITY
32,437
COMMODITIES
CAP
CMPC
MARKET CAP (MMUS$)
11,292
FREE FLOAT (%)
AJUSTED MARKET CAP (MMUS$)
WEIGHT (%)
681
68.68
468
4.21
6,022
44.59
2,685
24.20
COPEC
14,942
39.18
5,854
52.75
SQM-B
3,074
68.00
2,090
18.84
24,719
CONST. & REAL ESTATE
BESALCO
MARKET CAP (MMUS$)
11,097
FREE FLOAT (%)
WEIGHT (%)
335
40.26
135
23.02
181
59.66
108
18.37
SALFACORP
353
63.38
223
38.11
SOCOVESA
253
47.46
120
20.50
PAZ
1,122
CONSUMER GOOD
ANDINA-B
MARKET CAP (MMUS$)
586
FREE FLOAT (%)
WEIGHT (%)
1,376
49.53
681
21.13
CCU
3,586
38.41
1,377
42.72
CONCHATORO
27.52
1,484
59.80
887
EMBONOR-B
416
49.38
205
6.37
IANSA
127
57.26
73
2.26
6,989
INDUSTRIAL
CFR
MARKET CAP (MMUS$)
3,224
FREE FLOAT (%)
WEIGHT (%)
2,356
27.19
640
8.71
122
34.08
42
0.56
6,225
74.32
4,626
62.95
242
33.00
80
1.09
MOLYMET
1,063
68.91
733
9.97
SK
1,730
23.70
410
5.58
787
62.56
493
6.70
604
54.00
326
4.44
INVEXANS
LAN
MASISA
SMSAAM
VAPORES
13,129
RETAIL
MARKET CAP (MMUS$)
7,350
FREE FLOAT (%)
WEIGHT (%)
CENCOSUD
7,135
39.69
2,832
36.18
FALABELLA
16,470
18.51
3,049
38.95
1,081
33.96
367
4.69
140
38.55
54
0.69
0.54
FORUS
HITES
NUEVAPOLAR
PARAUCO
RIPLEY
47
90.31
42
1,390
74.03
1,029
13.15
966
47.03
454
5.80
27,228
UTILITIES
MARKET CAP (MMUS$)
7,827
FREE FLOAT (%)
WEIGHT (%)
AESGENER
4,544
29.33
1,333
6.55
AGUAS-A
3,550
49.90
1,771
8.70
5.54
CGE
3,341
33.76
1,128
COLBUN
4,727
50.55
2,390
11.74
ECL
1,588
47.23
750
3.68
ENDESA
12,786
40.02
5,117
25.13
ENERSIS
16,697
40.02
6,682
32.82
3.37
GASCO
1,582
43.38
686
PEHUENCHE
4,254
7.35
313
1.54
PILMAIQUEN
250
76.06
190
0.93
53,318
20,359
STOCK RANKING
111
2014
SYMBOL
TRADED
(%)
SYMBOL
VOLUME
MARKET
SYMBOL
PRESENCE
(MMUS$)
RETURN
SYMBOL
(%)
MARKET CAP
(%)
(MMUS$)
(%)
1
CHILE
2,399
8.85
1
AESGENER
100.00
1
SOQUICOM
87.59
1
FALABELLA
16,319
7.00
2
FALABELLA
2,164
7.98
2
AGUAS-A
100.00
2
CAMANCHACA
73.16
2
ENERSIS
16,065
6.89
3
LAN
1,993
7.35
3
BCI
100.00
3
CGE
71.41
3
COPEC
14,657
6.29
4
ENERSIS
1,823
6.72
4
BSANTANDER
100.00
4
SAN PEDRO
70.45
4
ENDESA
12,443
5.34
10,959
4.70
9,410
4.04
3.09
5
CENCOSUD
1,442
5.32
5
CAP
100.00
5
INDISA
46.60
5
CHILE
6
ENDESA
1,338
4.94
6
CCU
100.00
6
HABITAT
46.39
6
BSANTANDER
7
COPEC
1,333
4.92
7
CENCOSUD
100.00
7
CFR
44.07
7
CENCOSUD
7,202
8
BSANTANDER
1,284
4.74
8
CHILE
100.00
8
AQUACHILE
43.58
8
LAN
6,345
2.72
9
CORPBANCA
835
3.08
9
CMPC
100.00
9
PEHUENCHE
40.56
9
CMPC
6,251
2.68
10
CMPC
799
2.95
10
COLBUN
100.00
10
MULTIFOODS
39.42
10
ANTARCHILE
5,478
2.35
11
SQM-B
714
2.63
11
CONCHATORO
100.00
11
COLBUN
35.29
11
WMTCL
5,475
2.35
12
ENTEL
709
2.62
12
COPEC
100.00
12
ECL
34.95
12
BCI
5,359
2.30
13
AGUAS-A
592
2.18
13
CORPBANCA
100.00
13
AUSTRALIS
34.54
13
COLBUN
4,665
2.00
14
CAP
533
1.97
14
ENDESA
100.00
14
ENERSIS
31.19
14
AESGENER
4,461
1.91
15
CCU
526
1.94
15
ENERSIS
100.00
15
PAZ
28.75
15
CORPBANCA
4,084
1.75
16
COLBUN
518
1.91
16
ENTEL
100.00
16
SECURITY
27.36
16
PEHUENCHE
4,035
1.73
17
BCI
518
1.91
17
FALABELLA
100.00
17
PILMAIQUEN
24.95
17
SQM-A
3,762
1.61
18
SONDA
494
1.82
18
IAM
100.00
18
PARAUCO
24.39
18
QUINENCO
3,559
1.53
19
CFR
442
1.63
19
LAN
100.00
19
SK
22.96
19
CCU
3,492
1.50
20
ECL
401
1.48
20
SM-CHILE B
100.00
20
CONCHATORO
22.32
20
AGUAS-A
3,361
1.44
21
AESGENER
380
1.40
21
SONDA
100.00
21
ENDESA
21.03
21
MINERA
3,293
1.41
22
PARAUCO
375
1.38
22
SQM-B
100.00
22
CMPC
19.74
22
SM-CHILE B
3,256
1.40
23
CONCHATORO
350
1.29
23
ANDINA-B
99.44
23
AESGENER
17.61
23
CGE
3,204
1.37
24
CGE
345
1.27
24
ECL
99.44
24
SONDA
17.59
24
SQM-B
2,922
1.25
25
ANDINA-B
335
1.24
25
PARAUCO
99.44
25
SQM-B
15.97
25
CHILECTRA
2,785
1.20
26
SM-CHILE B
322
1.19
26
RIPLEY
98.89
26
BANVIDA
14.55
26
ENTEL
2,374
1.02
27
IAM
300
1.11
27
ILC
98.33
27
PROVIDA
13.96
27
CFR
2,356
1.01
28
AQUACHILE
256
0.94
28
HABITAT
97.78
28
IAM
12.30
28
CVA
2,134
0.92
29
FORUS
250
0.92
29
VAPORES
95.56
29
BANMEDICA
11.14
29
SONDA
2,070
0.89
30
ILC
208
0.77
30
SMSAAM
93.33
30
SCHWAGER
11.11
30
SANTANGRUP
2,064
0.89
92.78
31
IANSA
10.66
31
PROVIDA
1,800
0.77
91.11
32
BUPACL
9.48
32
SK
1,664
0.71
0.67
31
RIPLEY
207
0.77
31
CGE
32
ANTARCHILE
187
0.69
32
FORUS
33
HABITAT
174
0.64
33
SALFACORP
90.00
33
AGUAS-A
9.41
33
PARAUCO
1,565
34
ANDINA-A
134
0.49
34
ANTARCHILE
89.44
34
BCI
8.48
34
IAM
1,548
0.66
35
VAPORES
132
0.49
35
GASCO
88.89
35
CAMPOS
7.47
35
ECL
1,535
0.66
36
SMSAAM
131
0.48
36
EMBONOR-B
80.00
36
ANTARCHILE
5.83
36
HABITAT
1,499
0.64
37
EMBONOR-B
130
0.48
37
SK
80.00
37
GASCO
4.90
37
CONCHATORO
1,460
0.63
38
HF
118
0.44
38
BESALCO
76.67
38
ORO BLANCO
4.75
38
GASCO
1,438
0.62
39
BUPACL
108
0.40
39
NUEVAPOLAR
75.00
39
CORPBANCA
4.60
39
BANMEDICA
1,431
0.61
40
LAS CONDES
108
0.40
40
SECURITY
71.11
40
ILC
4.35
40
PASUR
1,379
0.59
41
SK
107
0.39
41
BANMEDICA
70,00
41
BSANTANDER
3.83
41
BBVACL
1,360
0.58
42
QUINENCO
99
0.36
42
AQUACHILE
68.33
42
SMSAAM
3.35
42
ENAEX
1,357
0.58
0.57
43
GASCO
97
0.36
43
BUPACL
68.33
43
QUINENCO
1.73
43
ANDINA-B
1,338
44
MINERA
90
0.33
44
IANSA
67.78
44
SM-CHILE B
1.69
44
BICECORP
1,331
0.57
45
SECURITY
88
0.32
45
CFR
66.67
45
SM-CHILE D
1.67
45
ILC
1,211
0.52
46
BANMEDICA
79
0.29
46
PAZ
64.44
46
MINERA
1.59
46
SECURITY
1,148
0.49
47
SALFACORP
77
0.29
47
QUINENCO
63.89
47
INVEXANS
1.34
47
ANDINA-A
1,147
0.49
48
BESALCO
70
0.26
48
MINERA
60.56
48
CRISTALES
0.93
48
MOLYMET
1,106
0.47
49
NUEVAPOLAR
59
0.22
49
MULTIFOODS
51.67
49
COPEC
-0.81
49
CUPRUM
1,081
0.46
50
HITES
48
0.18
50
ANDINA-A
50.00
50
CHILE
-0.85
50
ALMENDRAL
1,070
0.46
NOTES
Note: Figures expressed in millions of dollars using the “observed
Returns ranking includes only stocks with market presence greater than or equal to 50% during 2014.
MARKET PRESENCE: Number of days that the stock registered trades greater than or equal to 1,000 UF (Unidades de Fomento) during the last 180 trading days. This figure is expressed as a percentage.
RETURN: The gain or loss on an investment in a stock in 2014, assuming that it is purchased at the beginning of the period and sold at the end, and considering rights issues, dividend
reinvestments, capital distributions and price variations during the year.
These returns become effective to the extent that the stock has sufficient market liquidity (presence) in order to be purchased and sold at the right time.
MARKET CAPITALIZATION: Number of outstanding shares multiplied by the closing price on December 30, 2014.
SUMMARY OF REPOs TRANSACTIONS
IN 2014 (1)
NUMBER
STOCK
SHARES TRADED
68,708,194
TRADED VOLUME
(MMUS$)
HIGH PRICE (CH$)
LOW PRICE (CH$):(2)
AVERAGE PRICE (CH$):(2)
(2)
1
LAN
858
8,976.00
6,560.00
7,662.15
2
PARAUCO
3
ENERSIS
350,088,928
614
1,222.00
930.00
1,053.35
1,886,887,462
562
209.00
146.00
4
CORPBANCA
180.07
45,792,711,750
517
7.82
5.92
5
ENDESA
6.90
314,427,894
426
958.00
705.00
829.85
6
AESGENER
627,602,830
303
340.00
259.00
298.20
7
CHILE
8
COLBUN
9
PILMAIQUEN
51,326,018
10
CENCOSUD
73,578,166
11
SM-CHILE B
699,240,306
206
189.00
168.00
177.99
12
BCI
3,552,274
185
34,149.00
28,000.00
31,610.56
13
CMPC
1,326.69
14
SMSAAM
15
CAP
16
BSANTANDER
17
FALABELLA
18
19
20
2,080,431,796
247
77.00
66.50
71.94
993,756,030
239
166.01
118.00
142.72
217
3,200.00
2,290.80
2,661.25
207
2,004.00
1,422.00
1,724.03
81,290,224
177
1,557.00
1,130.00
1,797,159,542
138
49.90
43.50
46.56
11,498,790
130
10,169.00
2,510.20
7,458.60
2,346,089,414
125
37.50
26.85
32.48
14,951,186
112
5,154.00
3,980.00
4,549.41
ENTEL
9,424,736
104
7,550.00
5,986.90
6,745.72
SONDA
46,291,648
104
1,605.00
1,035.00
1,352.58
CFR
297,032,960
95
205.00
104.90
176.61
21
VAPORES
2,197,125,378
91
33.50
21.50
25.36
22
COPEC
7,405,418
87
7,753.00
6,300.00
7,177.85
23
CGE
13,844,844
79
4,762.00
2,171.10
2,874.41
24
CFIMBIARB
1,419,730
74
32,500.00
27,898.00
30,881.98
25
MULTIFOODS
361,059,212
73
137.78
81.17
118.65
26
ECL
53,259,308
67
958.00
640.00
775.29
27
ILC
5,259,144
65
8,420.00
6,450.00
7,401.66
28
RIPLEY
114,444,534
62
387.60
285.00
339.26
29
SOCOVESA
30
ANTARCHILE
31
HABITAT
32
SQM-B
33
LAS CONDES
34
PAZ
35
SECURITY
36
SALFACORP
43,777,290
34
545.70
414.74
474.14
37
BANMEDICA
18,627,364
30
1,160.00
867.30
961.03
38
MOLLER
57,211,842
28
351.90
265.00
305.67
39
QUINENCO
40
AGUAS-A
41
IANSA
42
IAM
43
CFIIMDLAT
44
CFIMBIGLOB
45
GASCO
46
CFIMRCLP
47
SK
48
49
252,543,006
52
150.00
101.00
122.88
4,047,992
50
8,160.00
6,900.00
7,453.69
30,043,780
43
993.98
694.00
801.77
1,561,672
39
18,768.00
12,950.00
15,811.25
562,844
39
43,700.00
37,900.00
41,342.56
65,333,246
37
390.00
250.00
327.90
101,804,370
35
241.00
176.00
204.38
12,686,814
26
1,380.00
1,125.00
1,223.45
38,396,374
22
374.00
326.00
349.27
680,626,374
22
22.90
16.50
19.92
13,611,554
20
960.00
847.00
910.08
184,100
17
63,031.00
54,974.00
57,623.90
14,318
17
779,000.00
645,800.00
707,990.47
2,162,834
16
5,814.00
3,590.00
4,842.00
1,110,440
16
9,342.80
8,416.00
8,679.49
10,520,332
16
1,010.00
750.00
882.37
CRUZBLANCA
19,411,342
15
500.00
455.00
479.32
ANDINA-B
3,796,812
13
2,338.00
1,747.00
2,048.16
113
NUMBER
STOCK
SHARES TRADED
TRADED VOLUME
(MMUS$)
HIGH PRICE (CH$)
LOW PRICE (CH$):(2)
AVERAGE PRICE (CH$):(2)
(2)
50
MASISA
284,980,336
12
34.00
18.42
26.16
51
NORTEGRAN
52
FORUS
3,267,638,548
12
2.70
1.70
2.21
2,840,786
11
2,800.00
2,220.00
2,442.11
53
ORO BLANCO
3,301,264,814
11
2.44
1.58
2.05
54
NUEVAPOLAR
148,269,934
10
73.00
23.01
45.80
55
CTC-A
11,034,316
10
611.89
433.00
528.59
56
CFIPIONERO
1,250,370
10
4,900.80
4,623.00
4,761.90
57
EMBONOR-B
5,456,036
9
1,135.00
900.00
1,005.71
58
ENAEX
710,516
7
6,700.00
5,250.00
5,907.91
59
CONCHATORO
2,933,180
6
1,223.00
965.00
1,125.66
60
CFIMSC
75,402
5
40,074.00
40,074.00
40,074.00
61
CCU
425,560
4
6,610.00
5,685.00
6,191.29
62
MINERA
149,662
4
16,493.00
15,800.00
16,129.48
63
CFIMLDL
69,214
4
34,035.00
33,501.00
33,768.00
64
CFIAURUSRI
98,046
3
22,500.00
19,000.00
20,271.79
65
BESALCO
4,683,344
3
571.00
341.00
447.13
66
AQUACHILE
5,263,008
3
395.00
256.14
346.08
67
BANVIDA
9,301,060
3
206.00
155.00
175.85
68
HITES
5,116,620
2
382.00
200.00
292.46
69
PEHUENCHE
3,569.11
70
CAMANCHACA
71
330,564
2
3,937.20
3,045.00
34,679,226
1
33.50
19.00
26.40
SOQUICOM
5,894,884
1
125.00
94.50
108.95
72
TECHPACK
53,097,244
1
300.00
2.31
208.81
73
CFINRENTAS
63,094
1
9,200.00
9,000.00
9,108.33
74
CFICELRI2
19,224
1
30,000.00
30,000.00
30,000.00
75
ALMENDRAL
9,446,308
1
57.60
45.50
51.50
76
ZOFRI
727,024
1
700.00
550.00
649.75
77
MADECO
143,190,932
1
3.90
2.40
3.41
78
PUCOBRE-A
116,182
1
3,125.00
2,800.00
3,008.20
79
CFMITNIPSA
102,128
1
3,133.20
3,078.10
3,105.65
80
INVEXANS
33,267,924
1
10.20
7.15
8.96
81
ENJOY
4,283,598
0.4
76.00
50.00
62.63
82
MOLYMET
18,546
0.2
8,199.00
6,210.40
6,873.27
83
INVERCAP
1,862.00
84
BUPACL
85
ANDINA-A
86
INDISA
87
SAN PEDRO
88
CEMENTOS
89
CAMPOS
90
INGEVEC
91
92
93
66,362
0.2
1,862.00
1,862.00
168,558
0.1
500.00
492.00
496.75
29,366
0.1
1,836.00
1,499.00
1,691.40
16,350
0.1
2,774.40
2,774.40
2,774.40
8,000,000
0.1
4.92
4.92
4.92
46,716
0.04
541.00
535.00
538.00
1,036,918
0.04
24.28
23.53
23.91
465,116
0.02
26.52
26.52
26.52
PROVIDA
3,478
0.02
3,680.00
3,120.00
3,401.67
AZUL AZUL
7,950
0.01
1,122.00
1,122.00
1,122.00
POLPAICO
1,242
0.01
4,850.00
4,850.00
4,850.00
TOTAL
6,893
(1) Considers repo transactions in equities and investment fund shares.
(2) Determined based on prices of cash transactions.
SUMMARY OF SHORT SELLING TRANSACTIONS
IN 2014
NUMBER
STOCK
1
CENCOSUD
2
LAN
3
FALABELLA
4
AGUAS-A
5
6
7
ENERSIS
8
BSANTANDER
9
CCU
10
ENDESA
11
COPEC
12
CHILE
13
SQM-B
14
15
SHARES
TRADED
TRADED VOLUME
(MMUS$)
HIGH PRICE
(CH$)
LOW PRICE
(CH$)
AVERAGE PRICE
(CH$)
32,477,886
92
1,974.50
1,419.10
1,696.41
5,268,715
69
8,820.00
6,516.20
7,911.79
6,396,409
52
5,150.00
4,059.80
4,775.63
53,302,464
31
377.50
332.00
354.26
ENTEL
2,385,256
26
7,520.00
6,020.00
6,789.61
CMPC
9,669,293
21
1,550.10
1,155.00
1,315.01
66,306,679
21
209.90
156.19
188.27
362,312,690
20
37.40
29.49
33.77
1,884,344
19
6,729.20
5,600.10
6,278.55
13,468,491
19
945.00
705.61
861.81
1,347,272
16
7,680.00
6,470.50
7,209.58
133,289,980
16
75.49
68.19
72.79
520,326
14
19,050.00
13,301.00
16,182.67
ANDINA-B
3,964,678
13
2,338.00
1,739.90
2,020.25
CAP
1,668,534
13
9,951.00
2,508.10
5,634.07
16
ECL
8,593,143
10
934.99
649.99
716.29
17
HABITAT
7,142,256
10
999.99
720.01
843.58
18
BCI
19
SM-CHILE B
20
CORPBANCA
21
COLBUN
22
23
172,332
9
34,499.00
28,253.00
31,750.44
28,124,823
8
186.49
169.50
178.87
660,199,947
8
7.80
6.25
7.21
20,676,356
5
166.96
116.51
152.73
SONDA
2,058,173
5
1,648.90
1,110.10
1,431.80
FORUS
1,117,730
5
2,770.10
2,219.90
2,518.41
24
RIPLEY
8,193,111
5
390.01
286.10
338.58
25
PARAUCO
26
AESGENER
27
CONCHATORO
28
ILC
29
30
2,145,164
4
1,244.90
925.00
1,055.59
6,548,340
3
340.01
282.61
312.33
1,484,078
3
1,200.00
1,015.10
1,146.61
170,988
2
8,606.00
6,701.00
7,819.60
IAM
1,048,314
2
960.99
859.99
915.06
SK
1,008,248
1
1,019.90
790.01
890.27
31
VAPORES
21,988,781
1
28.00
21.61
23.99
32
ANTARCHILE
43,547
1
8,020.70
7,334.90
7,919.56
33
CFR
2,792,324
1
125.00
110.01
122.22
34
CGE
96,018
0,5
4,630.10
2,211.00
2,925.43
35
BESALCO
429,651
0,4
560.01
414.61
487.33
36
SALFACORP
400,192
0,3
549.99
410.00
494.76
37
CRUZBLANCA
343,921
0,3
488.99
455.01
480.59
38
SMSAAM
1,352,757
0,1
49.51
46.03
47.95
TOTAL
525
115
GROWTH OF REPOS
AND SHORT SALES
TRADED VOLUME
IN FOREIGN SECURITIES
YEAR
REPOS TRANSACTIONS
(MMUS$)(1)
SHORT SALES
(MMUS$)(2)
2000
964
-
2001
1,139
-
2002
1,099
16
2003
1,622
30
2004
YEAR
FOREIGN SECURITIES
(US$)
ETFs
(US$)
TOTAL
(US$)
2006
24,142,707
-
24,142,707
2007
10,643,811
-
10,643,811
2008
95,645
-
95,645
2009
1,285,714
288,987
1,574,701
2,288
14
2010
19,050,852
56,235,429
75,286,281
2005
5,027
144
2011
5,199,384
48,497,911
53,697,295
2006
4,349
340
2012
20,994,140
47,603,851
68,597,991
2007
6,603
651
2008
786
2013
20,389,750
117,848,184
138,237,934
6,508
2009
3,633
428
2014
29,422,891
159,628,814
189,051,705
2010
5,900
1,059
2011
8,522
1,191
2012
6,241
1,040
2013
6,433
364
2014
6,893
525
(1) Considers repos transactions in equities and investment fund shares.
(2) The years 2005, 2006, 2007 and 2008 consider short sales of equities
and fixed-income instruments.
MILA TRANSACTIONS IN CHILEAN STOCKS
YEAR
PERUVIAN BROKERS
(US$)
COLOMBIAN BROKERS
(US$)
MEXICAN BROKERS
(US$)
TOTAL
(US$)
2011
4,383,802
3,419,588
-
7,803,390
2012
64,254,832
1,854,675
-
66,109,507
2013
112,278,542
102,939
-
112,381,481
2014
58,653,916
134,138
2,804
58,790,858
Note: Corresponds to purchases and sales of Chilean stocks by Peruvian, Colombian and Mexican brokers on the Santiago Stock Exchange as part of the Latin
American Integrated Market - MILA.
MILA TRANSACTIONS IN PERUVIAN, COLOMBIAN
AND MEXICAN STOCKS
YEAR
PERUVIAN STOCKS
(US$)
COLOMBIAN STOCKS
(US$)
MEXICAN STOCKS
(US$)
TOTAL
(US$)
2011
329,094
7,651,864
-
7,980,958
2012
6,328,619
5,453,314
-
11,781,933
2013
6,672,346
8,977,569
-
15,649,915
2014
2,999,872
742,505
1,905
3,744,282
Note: Corresponds to purchases and sales of Peruvian, Colombian and/or Mexican stocks by Chilean brokers on the Lima, Colombian and/or Mexican stock
exchanges as part of the Latin American Integrated Market - MILA.
DAILY TRADED VOLUME IN FIXED INCOME MARKET
FOR 2014
DAY
JANUARY
FEBRUARY
MARCH
1
APRIL
MAY
JUNE
961,473
2
590,299
3
837,556
941,040
4
5
599,884
577,238
JULY
AUGUST
SEPTEMBER
OCTOBER
897,237
734,765
946,022
934,058
732,129
1,295,234
1,059,071
698,193
1,161,369
865,040
740,238
593,640
476,434
811,937
801,913
684,253
689,980
765,997
768,571
992,585
542,942
829,600
994,014
1,562,514
617,953
943,263
843,701
869,902
1,066,209
6
915,596
421,365
1,031,393
894,862
788,146
1,073,748
7
893,949
842,601
803,995
8
709,041
9
758,533
10
870,958
397,894
688,562
948,685
497,232
1,028,611
882,302
1,179,282
981,604
709,980
1,141,948
940,229
862,504
1,068,000
742,510
868,399
NOVEMBER
675,386
748,181
883,396
1,034,908
740,166
575,184
1,007,706
953,002
1,417,248
876,033
1,237,147
744,502
765,926
926,360
1,275,675
967,578
1,056,064
1,076,699
1,566,367
971,011
1,054,851
795,542
DECEMBER
907,178
466,079
967,462
11
611,977
938,580
1,156,831
737,408
1,011,792
12
668,242
1,020,136
809,341
769,625
940,168
1,522,571
612,705
974,886
584,587
648,502
877,275
859,832
543,512
1,097,425
14
857,870
505,040
1,084,115
685,035
762,610
825,315
15
670,495
807,378
822,755
899,647
16
779,717
822,916
854,021
17
714,723
13
18
19
20
400,351
743,351
564,890
868,439
593,301
828,992
524,861
995,481
846,044
744,331
567,491
603,963
1,004,027
558,493
741,075
1,086,442
870,772
800,006
1,179,283
639,554
1,203,246
660,246
729,304
21
815,414
597,688
760,834
613,938
734,155
23
753,301
796,615
824,558
24
832,322
616,231
1,158,473
635,289
953,177
911,038
611,802
739,303
957,471
1,107,994
441,936
728,725
806,906
598,072
22
834,773
730,147
899,021
834,706
1,003,634
598,171
889,532
808,020
1,078,519
734,745
747,838
539,386
1,195,908
749,664
695,288
631,694
787,579
350,878
857,355
801,996
758,552
613,028
846,143
794,047
869,677
787,762
757,600
871,553
828,128
520,304
674,260
768,735
25
751,155
802,736
716,994
609,436
767,595
812,840
26
789,477
839,746
737,594
891,664
1,062,987
1,001,202
884,041
906,527
693,253
866,828
27
538,323
852,600
689,740
440,024
676,938
28
733,028
888,811
1,153,850
647,112
1,207,422
29
629,579
1,081,852
922,243
1,009,838
885,258
30
598,947
758,466
1,004,742
31
737,716
497,983
638,505
1,002,273
577,498
655,995
999,299
880,049
774,121
708,798
544,092
935,828
710,534
651,252
1,246,705
823,590
967,074
954,773
538,323
397,894
476,434
593,301
558,493
350,878
497,232
609,436
441,936
539,386
466,079
544,092
1,084,115
1,141,948
1,179,283
1,056,064
1,076,699
1,207,422
1,566,367
1,417,248
1,195,908
1,107,994
813,080
829,862
876,832
747,602
814,571
943,963
1,051,561
878,715
763,781
832,825
16,314,167
28,739,719
45,750,833
63,139,095
80,632,718
96,328,662
114,240,357
133,119,033
154,130,292
173,436,223
188,712,036
12,450,978
17,074,674
17,427,107
17,536,647
15,699,632
17,920,554
18,879,259
21,031,229
19,331,721
15,275,626
16,656,494
45,543,367
62,970,474
80,507,121
96,206,754
114,127,307
133,006,566
154,037,795
173,369,517
188,645,142
205,301,637
915,596
870,772
728,078
622,549
728,078
MONTHLY TOTAL
16,017,715
16,017,715
28,468,692
09/10/2014
1,566,367
06/23/2014
09/05/2014
1,562,514
02/10/2014
350,878
397,894
09/12/2014
1,522,571
02/17/2014
400,351
dollar” exchange recorded at the last day of 2014.
117
ANNUAL REAL AVERAGE INTERNAL RATE OF RETURN
(TIR) BY TYPE OF INSTRUMENT
FOR 2014 (PERCENTAGE)
INSTRUMENTS
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
ANNUAL
AVERAGE
MORTGAGE BONDS
3.45
3.57
3.58
3.12
3.29
3.41
3.33
3.01
3.59
3.38
3.11
3.57
3.41
CORPORATE AND BANK BONDS
3.78
3.56
3.20
3.56
3.19
2.97
3.10
2.69
2.65
3.05
3.10
3.20
3.14
CENTRAL BANK AND TREASURY
BONDS
2.87
2.65
2.58
2.59
2.56
2.75
2.78
2.27
2.24
2.45
2.43
2.55
2.54
MONTHLY AVERAGE IN 2014
3.16
2.96
2.79
2.98
2.77
2.86
2.89
2.42
2.38
2.66
2.71
2.78
2.76
3.93
3.71
3.85
4.08
4.06
3.73
3.56
3.65
3.48
3.69
3.67
3.21
3.72
3.41
3.40
3.47
3.63
3.73
3.76
3.82
3.49
3.43
3.43
3.37
3.69
3.57
3.78
3.42
3.41
3.48
3.46
3.68
3.74
3.76
3.45
3.39
3.62
3.65
3.57
3.04
2.59
2.21
2.64
3.32
3.12
3.31
3.08
3.37
3.51
3.54
3.67
3.11
4.34
3.34
3.07
3.18
3.22
3.47
3.18
3.27
2.88
2.97
3.41
3.66
3.32
3.61
3.57
3.00
3.16
3.84
3.84
3.86
4.27
3.80
4.12
4.35
4.70
3.88
3.68
3.34
3.22
3.03
3.61
3.73
3.37
3.64
3.57
3.72
3.82
3.72
3.55
4.01
3.65
3.80
3.58
3.88
3.94
3.92
3.89
4.11
4.41
3.84
3.55
3.90
3.61
3.21
3.36
3.05
3.20
3.24
3.22
2.94
3.19
3.50
4.15
4.37
3.42
3.65
3.30
3.34
3.45
3.20
3.54
3.17
2.89
3.19
3.18
3.42
3.67
3.31
4.09
3.97
3.95
4.05
4.31
4.29
4.12
4.15
3.99
4.31
3.98
4.45
4.16
5.20
5.11
5.01
5.07
4.89
5.09
4.83
4.18
3.56
3.98
4.11
4.41
4.60
6.10
5.78
5.89
5.88
5.90
5.91
5.89
6.16
5.81
5.55
5.64
5.59
5.82
7.23
7.30
7.36
7.32
7.30
7.04
6.79
6.87
6.66
6.53
6.65
6.68
6.93
7.57
7.32
7.20
7.30
7.01
6.67
6.96
7.10
6.96
7.14
7.59
7.30
7.16
7.46
7.53
7.35
7.34
7.45
7.65
8.04
8.47
10.22
8.72
7.95
7.64
7.92
6.41
6.51
6.49
6.50
6.62
6.59
6.65
6.78
6.85
7.00
7.00
7.06
6.71
6.62
6.63
6.71
6.83
6.75
6.68
6.53
6.50
6.54
6.39
6.43
6.41
6.57
6.15
6.29
6.42
6.53
6.43
6.20
5.92
6.11
6.32
6.58
6.88
6.90
6.38
ANNUAL REAL AVERAGE INTERNAL RATE OF RETURN (TIR), BY YEARS TO MATURITY
0.0 - 2.0
2.1 - 5.0
5.1 - 8.0
8.1 - 10.0
10.1 - 12.0
12.1 - 15.0
15.1 and
Beyond
AVERAGE
JANUARY
2.77
3.10
3.22
3.42
3.07
3.60
3.54
3.16
FEBRUARY
2.18
2.98
3.19
3.10
3.04
3.60
3.60
2.96
MARCH
1.86
2.63
3.22
3.25
3.14
3.79
3.43
2.79
APRIL
1.86
2.86
3.22
3.19
3.17
3.57
3.42
2.98
MAY
1.71
2.51
3.26
3.19
2.96
3.46
3.19
2.77
JUNE
1.94
2.75
3.13
2.94
2.82
3.17
3.26
2.86
AVERAGE FIRST HALF OF YEAR
2.04
2.79
3.20
3.15
3.01
3.54
3.38
2.91
JULY
2.62
2.47
3.21
3.06
2.79
2.96
3.31
2.89
AUGUST
1.69
2.21
2.59
2.95
2.38
2.46
2.97
2.42
SEPTEMBER
1.17
2.05
2.65
2.80
2.40
2.77
3.00
2.38
OCTOBER
1.23
2.65
3.04
2.92
2.86
3.08
2.87
2.66
NOVEMBER
1.75
2.47
2.78
3.31
3.14
3.30
3.10
2.71
DECEMBER
2.94
2.33
2.96
3.09
2.90
2.44
3.00
2.78
AVERAGE SECOND HALF OF YEAR
1.83
2.36
2.85
3.00
2.66
2.76
3.06
2.62
ANNUAL AVERAGE 2014
1.94
2.58
3.01
3.06
2.86
3.15
3.20
2.76
ANNUAL AVERAGE 2013
3.85
3.70
3.68
3.79
3.40
3.66
3.73
3.72
ANNUAL AVERAGE 2012
3.73
3.46
3.74
3.44
3.67
3.73
3.75
3.57
ANNUAL AVERAGE 2011
3.03
3.45
3.83
3.90
3.57
3.79
3.74
3.57
ANNUAL AVERAGE 2010
1.81
2.78
3.71
3.57
3.42
3.67
3.77
3.11
ANNUAL AVERAGE 2009
1.70
2.94
4.33
3.86
3.91
3.44
4.06
3.32
ANNUAL AVERAGE 2008
3.58
3.76
4.01
4.33
4.27
3.42
3.92
3.88
ANNUAL AVERAGE 2007
3.11
3.48
4.10
3.72
3.50
3.60
3.52
3.55
ANNUAL AVERAGE 2006
3.95
3.82
3.67
4.23
4.02
3.90
3.94
3.90
ANNUAL AVERAGE 2005
3.34
3.13
3.05
3.84
3.73
3.87
3.66
3.52
ANNUAL AVERAGE 2004
2.65
2.91
2.88
3.39
4.06
4.28
4.40
3.51
ANNUAL AVERAGE 2003
3.36
3.98
3.78
3.88
4.83
5.13
5.20
4.31
ANNUAL AVERAGE 2002
3.35
4.54
4.35
4.18
5.53
5.49
4.99
4.63
ANNUAL AVERAGE 2001
4.54
5.58
5.72
5.52
6.23
6.10
6.41
5.73
ANNUAL AVERAGE 2000
6.32
6.64
6.92
6.79
7.16
6.98
7.24
6.86
ANNUAL AVERAGE 1999
6.79
6.82
7.09
7.30
7.43
7.16
7.38
7.14
ANNUAL AVERAGE 1998
9.88
8.42
7.71
7.82
8.11
7.96
7.76
8.24
ANNUAL AVERAGE 1997
6.82
6.76
6.67
6.59
6.83
6.77
6.71
6.74
ANNUAL AVERAGE 1996
6.82
6.73
6.45
6.44
6.72
6.60
6.59
6.62
ANNUAL AVERAGE 1995
6.35
6.44
6.34
6.30
6.49
6.36
6.38
6.38
MONTH
119
ANNUAL REAL AVERAGE INTERNAL RATE OF RETURN (TIR), DAILY VALUES
DAY
JANUARY
FEBRUARY
MARCH
1
APRIL
MAY
JUNE
2.96
2.67
3.46
2
3.18
3
2.56
2.97
JULY
AUGUST
SEPTEMBER
2.66
2.93
2.14
2.34
2.97
2.17
2.64
2.15
1.89
2.98
2.83
3.17
2.91
2.72
2.73
2.86
4
2.94
2.68
2.77
2.91
3.08
5
2.89
3.02
6
2.67
2.79
2.51
7
3.04
3.07
2.64
8
2.76
2.73
3.36
2.95
OCTOBER
NOVEMBER
2.71
3.20
2.65
2.31
2.39
3.06
2.48
2.23
2.61
2.86
2.64
2.23
2.64
2.75
3.47
2.73
2.31
2.79
2.47
2.99
2.56
2.53
2.82
2.70
9
3.04
2.84
2.63
10
3.53
2.48
3.07
3.52
2.93
3.07
2.90
3.16
11
3.44
2.69
3.01
2.71
2.73
12
3.16
2.55
13
3.39
2.88
2.39
14
2.55
2.94
2.65
15
2.64
2.70
3.38
3.29
3.14
3.03
2.61
3.01
2.93
3.13
2.88
16
3.26
3.07
2.42
17
3.42
18
19
20
2.84
2.72
2.60
2.42
3.26
2.53
3.02
3.23
2.28
2.86
2.72
3.00
2.08
2.24
3.04
2.34
2.55
2.33
2.79
3.27
2.54
2.72
1.97
2.70
2.62
2.59
23
3.78
3.27
2.67
24
3.50
25
26
3.89
2.94
2.41
3.11
2.41
2.54
3.01
2.79
2.84
2.68
2.76
2.86
2.74
2.60
3.10
2.97
3.34
2.98
2.94
2.69
2.38
2.92
3.62
2.51
3.38
2.49
3.16
2.68
2.75
3.06
2.56
2.62
2.88
28
2.98
3.09
2.49
2.69
2.28
29
3.10
3.26
2.59
3.22
2.74
30
4.03
2.64
2.52
31
2.87
3.09
3.14
2.99
3.20
3.04
2.48
2.08
2.70
2.92
2.90
2.66
2.30
2.59
2.16
2.43
2.55
2.04
2.53
3.21
2.76
2.02
2.52
2.75
2.71
2.72
2.38
27
3.59
2.61
2.26
2.65
2.65
2.41
2.66
3.18
3.20
2.38
2.53
3.04
3.18
3.24
2.92
2.68
2.91
3.45
2.25
2.66
3.42
21
2.98
2.50
3.26
22
2.54
2.61
2.56
2.58
DECEMBER
2.64
2.33
2.96
3.14
3.01
2.97
2.66
2.56
2.74
2.52
2.85
2.64
2.48
2.30
2.26
2.46
LOW FOR THE MONTH
2.55
2.53
2.39
2.56
2.42
2.48
2.46
1.97
1.89
2.23
2.08
2.15
3.52
3.62
3.46
3.47
3.89
3.23
2.93
2.98
3.01
3.21
3.34
2.96
2.79
2.98
2.77
2.86
2.89
2.42
2.38
2.66
2.71
2.78
3.07
2.98
2.97
2.94
2.94
2.93
2.87
2.82
2.80
2.80
2.79
HIGH FOR THE MONTH
4.03
MONTHLY AVERAGE
3.16
ANNUAL AVERAGE:
3.16
HIGHEST TIR RECORDED:
LOWEST TIR RECORDED:
4.03
1/30/2014
1.89
9/3/2014
3.89
6/23/2014
1.97
8/20/2014
3.78
1/23/2014
2.02
9/22/2014
SUMMARY OF MONEY MARKET TRANSACTIONS
FOR 2014
TERM IN DAYS
INSTRUMENTS
NUMBER OF
TRANSACTIONS
TRADED VOLUME
(MUS$)
HIGH
AVERAGE
LOW
AVERAGE INTEREST
RATE (%)
NON-INDEXED
NOTES
645,249
362,625,975
1,262
69
1
0.31
151,574
101,479,654
7,333
283
1
1.53
796,823
464,105,629
AVERAGE 30-DAY
INTEREST RATE (%)
INDEXED NOTES
TOTAL
NON-INDEXED NOTES
TERM IN DAYS
MONTH
NUMBER OF TRANSACTIONS
TRADED VOLUME
(MUS$)
HIGH
AVERAGE
LOW
JAN
53,587
FEB
43,388
29,048,086
985
73
1
0.37
26,243,361
965
72
1
0.36
MAR
51,364
30,911,791
1,262
64
1
0.34
APR
51,858
32,019,640
1,022
70
1
0.30
MAY
52,072
31,874,456
918
68
1
0.33
JUN
53,641
30,111,274
1,226
61
1
0.34
JUL
57,324
32,541,402
1,041
75
1
0.33
AUG
53,569
28,883,842
897
69
1
0.29
SEP
56,712
30,037,906
1,068
75
1
0.28
OCT
60,134
29,639,198
1,082
69
1
0.28
NOV
53,565
29,635,160
1,043
73
1
0.27
DEC
58,035
31,679,860
1,107
65
1
0.27
645,249
362,617,297
1,262
69
1
0.31
TOTAL
INDEXED NOTES
TERM IN DAYS
MONTH
NUMBER OF
TRANSACTIONS
TRADED VOLUME
(MUS$)
HIGH
AVERAGE
LOW
REAL ANNUAL
AVERAGE INTEREST
RATE (%)
15,588
9,847,037
5,430
250
1
1.92
FEB
10,159
8,679,488
5,803
276
1
1.92
MAR
12,905
9,939,373
1,800
346
1
1.46
JAN
APR
10,307
6,642,161
1,779
297
1
1.12
MAY
10,886
8,339,089
3,213
472
1
1.27
JUN
12,087
7,900,018
5,843
234
1
1.43
JUL
12,542
7,107,489
5,427
247
1
1.85
AUG
13,630
9,069,815
5,850
273
1
1.30
SEP
13,525
8,000,592
3,009
265
1
0.42
OCT
14,966
10,472,878
2,987
296
1
0.94
NOV
11,359
7,820,489
1,469
271
1
1.57
DEC
13,620
7,661,226
7,333
169
1
3.19
151,574
101,474,288
7,333
283
1
1.53
TOTAL
121
SUMMARY OF MONEY MARKET TRANSACTIONS
(1995 - 2014)
NON-INDEXED NOTES
YEAR
AVERAGE 30-DAY INTEREST RATE (%)
1995
27,389
1.01
1996
36,173
1.02
1997
50,278
0.88
1998
102,306
0.98
1999
53,198
0.58
2000
50,528
0.54
2001
81,801
0.51
2002
119,571
0.30
2003
99,318
0.22
2004
90,735
0.17
2005
130,921
0.34
2006
172,068
0.43
2007
211,159
0.48
2008
241,555
0.62
2009
246,797
0.17
2010
257,412
0.15
2011
322,502
0.43
2012
327,425
0.46
2013
369,682
0.42
2014
362,626
0.31
REAL ANNUAL AVERAGE INTEREST RATE (%)
INDEXED NOTES
YEAR
1995
52,333
5.45
1996
107,630
6.41
1997
125,053
5.86
1998
149,461
8.99
1999
130,340
5.13
2000
135,136
4.50
2001
116,329
4.00
2002
66,695
2.72
2003
39,310
2.78
2004
32,555
1.52
2005
59,296
1.66
2006
70,217
3.91
2007
77,328
3.00
2008
78,218
3.37
2009
95,198
4.10
2010
123,039
1.76
2011
87,096
2.48
2012
110,722
3.64
2013
111,434
2.93
2014
101,480
1.53
DAILY TRADED VOLUME IN MONEY MARKET
FOR 2014
DAY
JANUARY
FEBRUARY
MARCH
1
APRIL
MAY
JUNE
1,380,829
2,093,480
1,919,657
2
1,725,734
3
1,727,253
1,816,518
4
5
JULY
2,191,037
AUGUST
1,701,260
1,841,290
1,964,375
1,637,815
1,308,610
2,166,345
1,713,927
1,732,188
1,651,093
1,756,312
1,857,330
1,772,449
SEPTEMBER
OCTOBER
NOVEMBER
1,982,570
2,024,869
1,962,298
1,929,452
2,037,238
2,019,878
1,815,662
2,105,637
1,931,316
2,044,298
1,807,018
1,700,050
2,087,186
1,807,592
2,391,046
1,861,929
1,995,159
1,481,629
1,946,586
1,220,739
1,873,711
1,767,636
6
1,946,636
1,779,498
1,754,474
1,860,492
1,763,193
1,773,574
1,799,414
1,872,538
7
1,761,878
1,716,942
1,815,353
1,623,996
1,886,575
1,773,565
2,003,664
1,816,400
1,926,009
1,299,332
1,812,871
8
1,498,197
1,811,988
2,031,865
9
1,831,422
1,844,733
2,360,471
10
1,705,991
11
12
1,840,249
1,455,800
1,455,303
1,835,426
1,853,984
1,846,268
1,954,009
1,425,855
1,963,972
2,035,422
1,761,502
2,093,347
2,265,593
1,715,983
1,738,196
2,176,653
1,862,050
1,694,777
2,387,294
14
1,852,326
2,170,267
2,068,196
15
1,860,879
1,621,895
1,837,637
18
19
1,776,681
2,015,040
1,647,373
1,697,561
1,780,453
2,044,251
2,011,229
1,497,496
1,826,489
2,328,119
1,485,971
1,775,604
1,529,569
1,939,004
1,983,756
1,691,979
1,791,243
2,057,772
1,669,961
1,561,799
21
1,455,217
1,771,345
1,848,427
22
1,529,434
1,655,117
1,688,755
1,489,071
1,854,670
1,414,168
2,079,118
1,863,610
2,255,308
1,781,606
1,963,411
1,923,641
25
1,776,362
1,923,293
26
1,342,493
2,019,738
27
1,495,601
1,474,194
2,136,061
28
1,498,407
1,613,095
2,108,432
29
1,489,651
1,867,122
2,280,285
30
1,959,942
2,091,585
2,076,798
1,728,207
1,820,846
1,585,485
1,387,959
1,629,843
1,755,084
31
1,791,661
1,603,402
1,825,654
2,084,854
1,993,489
1,631,722
2,122,272
2,539,879
2,155,536
1,815,166
1,357,413
1,942,906
1,838,822
1,486,208
1,831,547
1,409,476
1,768,352
1,886,619
1,905,093
2,176,059
1,519,344
1,775,331
1,674,560
1,743,502
1,856,333
2,017,703
1,666,156
1,758,464
1,628,807
1,631,796
1,571,682
1,592,590
1,833,030
1,725,348
2,022,101
1,613,077
1,978,495
1,668,883
2,046,699
1,566,988
2,082,239
1,598,526
1,872,859
1,637,313
1,781,044
1,669,347
1,848,647
1,872,705
2,374,037
2,008,837
2,156,814
1,862,506
1,990,089
2,250,208
1,863,058
23
2,070,507
1,775,616
1,803,962
24
2,159,104
1,934,199
1,521,008
20
2,312,205
1,957,731
2,237,408
1,852,526
17
1,898,598
1,965,177
1,443,445
16
1,873,305
2,190,542
2,009,093
1,765,572
13
1,930,530
2,072,595
1,579,481
1,845,630
1,770,528
1,832,499
1,908,853
1,910,482
2,316,743
1,746,256
1,656,391
2,101,170
1,504,083
1,538,358
1,602,946
1,775,054
1,692,272
2,100,923
1,635,355
DECEMBER
1,968,358
1,473,599
2,048,270
1,802,083
1,389,934
2,090,423
1,806,646
2,109,189
1,923,264
1,455,217
1,342,493
1,566,988
1,299,332
1,220,739
1,519,344
1,357,413
1,538,358
1,409,476
1,387,959
1,486,208
1,389,934
2,237,408
2,091,585
2,374,037
2,166,345
2,328,119
2,387,294
2,190,542
2,312,205
2,316,743
2,539,879
1,886,803
1,797,889
1,969,321
1,772,832
1,770,356
1,869,638
1,890,581
1,830,599
1,880,304
1,967,054
38,019,729
71,428,810
110,872,203
148,557,111
187,862,661
225,059,249
263,966,036
301,337,094
339,139,216
379,383,908
416,983,760
33,579,662
39,622,855
37,755,665
39,386,430
37,229,472
38,947,829
37,392,766
37,811,629
40,273,168
37,606,074
39,341,086
110,422,730
148,178,395
187,564,825
224,794,298
263,742,127
301,134,893
338,946,521
379,219,690
416,825,764
456,166,850
1,959,942
2,170,267
1,691,828
1,678,983
1,691,828
MONTHLY TOTAL
37,220,214
37,220,214
70,799,876
12/19/2014
2,539,879
05/05/2014
1,220,739
12/04/2014
2,391,046
4/07/2014
1,299,332
08/13/2014
2,387,294
04/03/2014
1,308,610
exchange recorded at the last day of 2014.
123
ISSUERS LISTED AS OF 12/30/2014
EQUITY MARKET
230 ISSUERS
1
Administradora de Fondos de Pensiones Capital S.A.
49
Club de Polo y Equitación San Cristóbal S.A.
2
Administradora de Fondos de Pensiones Cuprum S.A.
50
Club Español de Valparaíso (Chile) S.A.
3
Administradora de Fondos de Pensiones Habitat S.A.
51
Club Hípico de Santiago S.A.
4
Administradora de Fondos de Pensiones Planvital S.A.
52
Coca Cola Embonor S.A.
5
Administradora de Fondos de Pensiones Provida S.A.
53
Colbún S.A.
6
AES Gener S.A.
54
Colegio Británico Saint Margaret’s S.A.
7
Agencias Universales S.A.
55
Colegio Craighouse S.A.
8
Agrícola Nacional S.A.C. e I.
56
Colegio Inglés Católico de La Serena S.A.
9
Aguas Andinas S.A.
57
Colegio La Maisonnette S.A.
Almendral S.A.
58
Compañía Agropecuaria Copeval S.A.
11
Andacor S.A.
59
Compañía Cervecerías Unidas S.A.
60
Compañía Chilena de Fósforos S.A.
10
12
AntarChile S.A.
13
Aseguradora Magallanes de Garantía y Crédito
61
Compañía Chilena de Navegación Interoceánica S.A.
14
Aguas Magallanes S.A.
62
Compañía de Inversiones La Española S.A.
15
Australis Seafoods S.A.
63
Compañía Eléctrica del Litoral S.A.
16
Automovilismo y Turismo S.A.
64
Compañía Electro Metalúrgica S.A.
17
AXXION S.A.
65
Compañía General de Electricidad S.A.
18
Azul Azul S.A.
66
Compañía Industrial El Volcán S.A.
19
Banco Bilbao Vizcaya Argentaria, Chile
67
Compañía Nacional de Teléfonos, Telefónica del Sur S.A.
Banco de Chile
68
Compañía Pesquera Camanchaca S.A.
21
Banco de Crédito e Inversiones
69
Compañía Sudamericana de Vapores S.A.
22
Banco Santander-Chile
70
Compañías CIC S.A.
20
23
Banmédica S.A.
71
Corpbanca
24
Banvida S.A.
72
Corpesca S.A.
25
Besalco S.A.
73
Costa Verde Aeronáutica S.A.
26
Betlan Dos S.A.
74
Cristalerías de Chile S.A.
27
Bicecorp S.A.
75
Cruzados S.A.D.P.
28
Blanco y Negro S.A.
76
CTI S.A.
29
Blumar S.A.
77
Detroit Chile S.A.
30
Bolsa de Comercio de Santiago, Bolsa de Valores
78
Duncan Fox S.A.
31
Bolsa de Corredores-Bolsa de Valores
79
E.CL S.A.
32
British American Tobacco Chile Operaciones S.A.
80
Echeverría Izquierdo S.A.
33
Bupa Chile S.A.
34
35
81
Eléctrica Puntilla S.A.
Campos Deportivos Craighouse S.A.
82
Embotelladora Andina S.A.
Cap S.A.
83
Empresa Constructora Moller y Pérez-Cotapos S.A.
36
Carbonífera Victoria de Lebu S.A.
84
Empresa de Servicios Sanitarios de Los Lagos S.A.
37
Carozzi S.A.
85
Empresa Eléctrica de Antofagasta S.A.
38
Casablanca Generación S.A.
86
Empresa Eléctrica de Arica S.A.
39
CEM S.A.
87
Empresa Eléctrica de Iquique S.A.
40
Cemento Polpaico S.A.
88
Empresa Eléctrica de Magallanes S.A.
41
Cementos Bío Bío S.A.
89
Empresa Eléctrica Pehuenche S.A.
42
Cencosud S.A.
90
Empresa Eléctrica Pilmaiquén S.A.
43
CFR Pharmaceuticals S.A.
91
Empresa Nacional de Electricidad S.A.
44
CGE Distribución S.A.
92
Empresa Nacional de Telecomunicaciones S.A.
45
Chilectra S.A.
93
Empresa Nacional del Carbón S.A.
46
Chilena Consolidada Seguros Generales S.A.
94
Empresa Pesquera Eperva S.A.
47
Cintac S.A.
95
Empresas Aquachile S.A.
48
Clínica Las Condes S.A.
96
Empresas Cabo de Hornos S.A.
97
Empresas CMPC S.A.
150
98
Empresas Copec S.A.
151
Inversiones Unión Española S.A.
Invertec Foods S.A.
99
Empresas Hites S.A.
152
Invexans S.A.
100
Empresas Iansa S.A.
153
Ipal S.A.
101
Empresas La Polar S.A.
154
Latam Airlines Group S.A.
102
Empresas Tattersall S.A.
155
Leasing Nacional S.A.
103
Enaex S.A.
156
Liga Independiente de Fútbol S.A.
104
Energía de Casablanca S.A.
157
Marbella Country Club S.A.
105
Energía Latina S.A.
158
Marítima de Inversiones S.A.
106
Enersis S.A.
159
Masisa S.A.
160
Melón S.A.
107
Enjoy S.A.
108
Envases del Pacífico S.A.
161
Minera Valparaíso S.A.
109
Essbío S.A.
162
Molibdenos y Metales S.A.
Esval S.A.
163
Muelles de Penco S.A.
110
111
Farmacias Ahumada S.A.
164
Multiexport Foods S.A.
112
Feria de Osorno S.A.
165
Navarino S.A.
113
Ferrocarril del Pacífico S.A.
166
Nibsa S.A.
114
Forestal Cholguán S.A.
167
Nitratos de Chile S.A.
115
Forestal, Constructora y Comercial del Pacífico Sur S.A.
168
Norte Grande S.A.
116
Forus S.A.
169
Old Grangonian Club S.A.
117
Frutícola Viconto S.A.
170
Pacífico V Región S.A.
118
Gasco S.A.
171
Parque Arauco S.A.
119
Granadilla Country Club S.A.
172
Paz Corp S.A.
Grupo Empresas Navieras S.A.
173
Pesquera Iquique-Guanaye S.A.
121
Grupo Security S.A.
174
Portuaria Cabo Froward S.A.
120
122
Hipermarc S.A.
175
Potasios de Chile S.A.
123
Hortifrut S.A.
176
Prince of Wales Country Club S.A. Inmobiliaria
124
Indiver S.A.
177
Puerto Ventanas S.A.
125
Infodema S.A.
178
Puertos y Logística S.A.
126
Ingevec S.A.
179
Quemchi S.A.
127
Inmobiliaria Central de Estacionamientos Agustinas S.A.
180
Quilicura S.A.
128
Inmobiliaria Club de Campo S.A.
181
Quiñenco S.A.
129
Inmobiliaria Craighouse S.A.
182
Rebrisa S.A.
130
Inmobiliaria de Deportes La Dehesa S.A.
183
Ripley Corp S.A.
131
Inmobiliaria España de Valdivia S.A.
184
S.A.C.I. Falabella
132
Inmobiliaria San Patricio S.A.
185
Salfacorp S.A.
133
Inmobiliaria Sixterra S.A.
186
Santa Bárbara S.A.
134
Inmobiliaria Stadio Italiano S.A.
187
Santana S.A.
135
Inmobiliaria Yugoslava S.A.
188
Santander Chile Holding S.A.
136
Instituto de Diagnóstico S.A.
189
Schwager Energy S.A.
137
Intasa S.A.
190
Scotiabank Sud Americano
138
Invercap S.A.
191
Seguros Vida Security Previsión S.A.
139
Invermar S.A.
192
Sigdo Koppers S.A.
140
Invernova S.A.
193
Sintex S.A.
141
Inversiones Agrícolas y Comerciales S.A.
194
Sipsa S.A.
142
Inversiones Aguas Metropolitanas S.A.
195
SMU S.A.
143
Inversiones Covadonga S.A.
196
Sociedad Agrícola La Rosa Sofruco S.A.
144
Inversiones La Construcción S.A.
197
Sociedad Anónima de Deportes Club de Golf Santiago
145
Inversiones Magallanes S.A.
198
Sociedad Anónima Feria de los Agricultores
146
Inversiones Nueva Región S.A.
199
Sociedad Anónima Inmobiliaria Sport Francais
147
Inversiones Siemel S.A.
148
Inversiones Tricahue S.A.
200
201
Sociedad Anónima Viña Santa Rita
Sociedad de Canalistas La Foresta de Apoquindo S.A.
149
Inversiones Unespa S.A.
202
Sociedad de Inversiones Campos Chilenos S.A.
125
203
Sociedad de Inversiones Generadora de Empresas S.A.
217
Tech Pack S.A.
204
Sociedad de Inversiones Oro Blanco S.A.
218
Telefónica Chile S.A.
205
Sociedad de Inversiones Pampa Calichera S.A.
219
Telefónica Larga Distancia S.A.
206
Sociedad Hipódromo Chile S.A.
220
Termas de Puyehue S.A.
207
Sociedad Inmobiliaria Viña Del Mar S.A.
221
The Grange School S.A.
208
Sociedad Matriz del Banco de Chile S.A.
222
Unión El Golf S.A.
209
Sociedad Matriz SAAM S.A.
223
Unión Inmobiliaria S.A.
210
Sociedad Pesquera Coloso S.A.
224
Valparaíso Sporting Club S.A.
211
Sociedad Punta del Cobre S.A.
225
Viña Concha y Toro S.A.
212
Sociedad Química y Minera de Chile S.A.
226
Viña San Pedro Tarapacá S.A.
213
Socovesa S.A.
227
Viñedos Emiliana S.A.
214
Sonda S.A.
228
Walmart Chile S.A.
215
Soprocal, Calerías e Industrias S.A.
229
Watts S.A.
216
Soquimich Comercial S.A.
230
Zona Franca de Iquique S.A.
FIXED INCOME MARKET
147 ISSUERS
1
AD Retail S.A.
34
CAP S.A.
2
AES Gener S.A.
35
Celulosa Arauco y Constitución S.A.
3
Agrosuper S.A.
36
Cencosud S.A.
4
Aguas Andinas S.A.
37
CFR Pharmaceuticals S.A.
5
Aguas Nuevas S.A.
38
6
Almendral Telecomunicaciones S.A.
39
Chilquinta Energía S.A.
7
América Móvil, S.A.B. de C.V.
40
Clínica Las Condes
8
Banchile Securitizadora S.A.
41
Coagra S.A.
9
Banco BICE
42
Coca-Cola Embonor S.A.
43
Colbún S.A.
10
11
Chilean Central Bank
44
12
Banco Consorcio
45
13
Banco de Chile
46
Compañía Electro Metalúrgica S.A.
14
47
15
Banco del Estado de Chile
48
Compañía Nacional de Fuerza Eléctrica S.A.
16
Banco Falabella
49
Compañía Nacional de Teléfonos, Telefónica del Sur S.A.
17
Banco Internacional
50
Compañía Sudamericana de Vapores S.A.
18
Banco Itaú Chile
51
Consorcio Financiero S.A.
19
Banco Paris
52
Cooperativa del Personal de la Universidad de Chile Ltda.
20
Banco Penta
53
Corp Group Vida Chile S.A.
21
Banco Pine S.A.
54
Corpbanca
22
Banco Ripley
55
Corporación GEO, S.A.B de C.V.
23
56
Corporación Nacional del Cobre
24
Banco Security
57
Corporación Universidad de Concepción
25
Banmédica S.A.
58
Cristalerías de Chile S.A.
26
Banvida S.A.
59
BUPA Chile S.A.
27
BCI Securitizadora S.A.
60
Dirección de Previsión de Carabineros (DIPRECA)
28
BCP Emisiones Latam 1 S.A.
29
30
61
EF Securitizadora S.A.
Bicecorp S.A.
62
Embotelladora Andina S.A.
Caja de Compensación de Asignación Familiar La Araucana
63
Empresa de los Ferrocarriles del Estado
31
Caja de Compensación de Asignación Familiar Los Andes
64
Empresa de Servicios Sanitarios de Los Lagos S.A.
32
Caja de Compensación de Asignación Familiar Los Héroes
65
Empresa de Transporte de Pasajeros Metro S.A.
33
Caja de Previsión de la Defensa Nacional (CAPREDENA)
66
Empresa Eléctrica de la Frontera S.A.
67
Empresa Nacional de Electricidad S.A.
108
Ruta del Maipo Sociedad Concesionaria S.A.
68
Empresa Nacional del Petróleo
109
Ruta del Maule Sociedad Concesionaria S.A.
69
Empresas Carozzi S.A.
70
110
S.A.C.I. Falabella
Empresas Copec S.A.
111
Salfacorp S.A.
71
Empresas Hites S.A.
112
Santander S.A. Sociedad Securitizadora
72
Empresas Iansa S.A.
113
Scotiabank Chile
73
114
Securitizadora BICE S.A.
74
Empresas Red Salud S.A.
115
Securitizadora Security S.A.
75
Enersis S.A.
116
Securitizadora Sudamericana S.A.
76
Enjoy S.A.
117
Sigdo Koppers S.A.
77
Enlasa Generación Chile S.A.
118
SMU S.A.
78
Essbio S.A.
119
Sociedad Anónima Viña Santa Rita
79
Esval S.A.
80
Eurocapital S.A.
120
Sociedad Austral de Electricidad S.A.
121
Sociedad Concesionaria Autopista Central S.A.
81
Factoring Security S.A.
122
Sociedad Concesionaria Autopista del Sol S.A.
82
Farmacias Ahumada S.A.
123
Sociedad Concesionaria Autopista Interportuaria S.A.
83
FINTESA Securitizadora S.A.
124
Sociedad Concesionaria Autopista Los Libertadores S.A.
84
Forum Servicios Financieros S.A.
125
Sociedad Concesionaria Autopista Vespucio Sur S.A.
85
Gasco S.A.
126
Sociedad Concesionaria Costanera Norte S.A.
86
Grupo Empresas Navieras S.A.
127
Sociedad Concesionaria Melipilla S.A.
87
Grupo Security S.A.
128
Sociedad Concesionaria Rutas del Pacífico S.A.
88
Indura S.A., Industria y Comercio
129
Sociedad Concesionaria Vespucio Norte Express S.A.
89
Ingevec S.A.
130
Sociedad de Inversiones La Construcción S.A.
90
Instituto de Previsión Social (IPS)
131
Sociedad de Rentas Comerciales S.A.
91
Inversiones CMPC S.A.
132
Sociedad Eléctrica Santiago S.A.
92
Inversiones Eléctricas del Sur S.A.
133
Sociedad Nacional de Oleoductos S.A.
93
Invexans S.A.
134
94
LQ Inversiones Financiera S.A.
135
Sodimac S.A.
95
Masisa S.A.
136
Sonda S.A.
96
Metrogas S.A.
137
Tanner Servicios Financieros S.A.
97
Ministerio de Vivienda y Urbanismo
138
Telefónica Chile S.A.
98
Molibdenos y Metales S.A.
139
Telefónica Móviles Chile S.A.
99
Nuevosur S.A
140
Chilean Treasury
100
Parque Arauco S.A.
141
Transa Securitizadora S.A.
101
Plaza S.A.
142
Transelec S.A.
102
Quiñenco S.A.
143
Transnet S.A.
103
Rabobank Chile
144
104
Raboinvestments Chile S.A.
145
105
Ripley Chile S.A.
146
Walmart Chile Inmobiliaria S.A.
106
Ripley Corp S.A.
147
Watts S.A.
107
Ruta del Bosque Sociedad Concesionaria S.A.
MONEY MARKET
57 ISSUERS
1
2
Chilean Central Bank
9
10
Banco Industrial y de Comercio Exterior
Banco Internacional
3
Banco Consorcio
11
Banco Itaú Chile
4
Banco de Chile
12
Banco Paris
5
13
Banco Penta
6
Banco del Estado de Chile
14
Banco Ripley
7
Banco Do Brasil
15
8
Banco Falabella
16
Banco Security
127
Besalco S.A.
37
Gasco S.A.
18
Bicecorp S.A.
38
GMAC Comercial Automotriz S.A.
19
Caja de Compensación de Asignación Familiar Los Héroes
39
HSBC Bank Chile
40
Incofin S.A.
17
20
Colbún S.A.
41
Instituto de Normalización Previsional
22
42
Interfactor S.A.
23
43
Inversiones CMPC S.A.
Cooperativa del Personal de la Universidad de Chile Ltda.
44
La Araucana Caja de Compensación de Asignación Familiar
25
Corpbanca
45
Metrogas S.A.
26
Deutsche Bank (Chile)
46
Promotora CMR Falabella S.A.
Empresa Nacional de Telecomunicaciones S.A.
47
Rabobank Chile
Empresas Hites S.A.
48
S.A.C.I. Falabella
29
Empresas Juan Yarur S.A.C.
49
Salfacorp S.A.
30
50
Scotiabank Chile
21
24
27
28
Esval S.A.
51
Servicios Financieros Progreso S.A.
Eurocapital S.A.
52
Sociedad Punta del Cobre S.A.
33
Factoring Security S.A.
53
34
Factotal S.A.
54
Tanner Servicios Financieros S.A.
First Factor S.A.
55
Chilean Treasury
Forum Servicios Financieros S.A.
56
57
31
32
35
36
FOREIGN SECURITY MARKET
895 ISSUERS
Foreign Open-End Funds (41)
27
Old Mutual Global Equity Fund Class A, B and C
1
Strategic Partners Balanced Fund
28
Old Mutual Greater China Equity Fund Class A, B and C
2
Strategic Partners Bond Fund
29
Old Mutual Investment Grade Corporate Bond Fund Class
3
Strategic Partners Capital Growth Fund
4
Strategic Partners Capital Income Fund
5
Strategic Partners Concentrated Growth Fund
6
Strategic Partners Core Value Fund
7
Strategic Partners Equity Income Fund
8
9
10
11
12
Strategic Partners Growth with Income Fund
Strategic Partners Health Sciences Fund
Strategic Partners High Yield Bond Fund
Strategic Partners International Growth Fund
Strategic Partners Managed Index 500 Fund
13
Strategic Partners Managed Large Cap Growth Fund
14
Strategic Partners Managed OTC Fund
15
Strategic Partners Managed Small Cap Growth Fund
16
Strategic Partners Mid Cap Growth Fund
17
Strategic Partners Money Market Fund
18
Strategic Partners Relative Value Fund
19
Strategic Partners Small Cap Growth Opportunity Fund
20
Strategic Partners Small Company Fund
21
Strategic Partners Technology Fund
22
Old Mutual Emerging Market Debt Fund Class A, B and C
23
Old Mutual European Best Ideas Fund Class A1, A2, A4,
A4H and I
24
Old Mutual European Equity Fund Class A, A2, B and C
25
Old Mutual Global Bond Fund Class A, B and C
26
Old Mutual Global Emerging Markets Fund Class A1, A2,
A3H, A4, B1M, C1, I and S4
A1, A1I, A2H, A3H, A4H, A5H, A5HI, B1M, C, I and S4H
30
Old Mutual Japanese Equity Fund Class A, A2, B and C
31
Old Mutual Local Currency Emerging Market Debt Fund
Class A1, A1MI, A2, A4I, B1M1, C1MI and I
32
Old Mutual North American Equity Fund - Class A, B and C
33
Old Mutual Pacific Equity Fund Class A, B and C
34
Old Mutual SEK Reserve Fund Class A
35
Old Mutual Swedish Bond Fund Class A
36
Old Mutual Swedish Equity Fund Class A
37
Old Mutual Swedish Growth Fund Class A
38
Old Mutual Total Return USD Bond Fund Class A, B and C
39
Old Mutual US Dividend Fund Fund Class A, B and C
40
Old Mutual US Large Cap Growth Fund Class A, B and C
41
Old Mutual World Equity Fund Class A and C
Foreign Mutual Funds (203)
1
BGF ASEAN Leaders Fund A2 USD
2
BGF Asia Pacific Eq Inc Fd A2 and C5G USD
3
BGF Asian Dragon A2 and c2 USD
4
BGF Asian Local Bond A2 USD
5
BGF Asian Tiger Bond A2 and C2 USD
6
BGF China A2 and C2 USD
7
BGF Continental European Flex A2 USD
8
BGF Continental European Flex C2 EUR
9
BGF Emerging Europe A2 y C2 USD
10
BGF Emerging Markets A2 USD
66
BGF World Mining A2 and C2 USD
11
BGF Emerging Markets Bond A2 and C2 USD
67
BGF World Technology A2 and C2 USD
12
BGF Emerging Markets C2 USD
68
DWS Deutschland
13
BGF Emerging Markets Equity Inc A2 USD
69
DWS India
14
BGF Emerging Markets Local Currency Bond A2 and C2 USD
70
DWS Invest Africa, Class A2 (USD)
15
BGF Euro Bond A2 and C2 USD
71
DWS Invest Africa, Class NC (EUR)
16
BGF Euro Corporate Bond A2 and C2 EUR
72
DWS Invest Chinese Equities, Class A2 (USD)
17
BGF Euro Reserve A2 and C2 EUR
73
DWS Invest Chinese Equities, Class NC (EUR)
18
BGF Euro Short Duration Bond A2 and C2 EUR
74
DWS Invest Convertibles, Class A2 (USD)
BGF Euro-Markets A2 and C2 USD
75
DWS Invest Convertibles, Class NC (EUR)
19
BGF European A2 and C2 USD
76
DWS Invest Global Agribusiness, Class A2 (USD)
21
BGF European Equity Income Fund A2 EUR
77
DWS Invest Global Agribusiness, Class NC (EUR)
22
BGF European Focus A2 and C2 EUR
78
DWS Invest Global Infrastructure, Class A2 (USD)
23
BGF European Focus A2 and C2 USD
79
DWS Invest Global Infrastructure, Class NC (EUR)
24
BGF European Growth A2 and C2 USD
80
DWS Invest Gold and Precious Metals, Class A2 (USD)
25
BGF European Value A2 and C2 USD
81
DWS Invest Gold and Precious Metals, Class NC (EUR)
26
BGF Fixed Income Global Opp A2 and C2 USD
82
DWS Invest Top 50 Asia, Class A2 (USD)
20
27
BGF Flexible Multi-Asset A2 and C2 EUR
83
DWS Invest Top 50 Asia, Class NC (EUR)
28
BGF Flexible Multi-Asset Hedged A2 and C2 USD
84
DWS Russia
29
BGF Gbl Inflation Linked Bd A2 and C2 USD
85
DWS Türkei
BGF Global Allocation A2 and C2 USD
86
Franklin Brazil Opportunities Fund Class A (Acc) USD and
30
31
BGF Global Corporate Bond A2 USD
32
BGF Global Dynamic Equity USD and C2 A2
33
BGF Global Enhanced Equity Yield A2 and C2 USD
34
BGF Global Equity A2 and C2 USD
35
BGF Global Equity Income A2 and C2 USD
36
BGF Global Government Bond A2 and C2 USD
37
BGF Global High Yield Bond A2 and C2 USD
38
BGF Global Multi Asset Income A2 USD
39
BGF Global Opportunities A2 and C2 USD
40
BGF Global SmallCap A2 and C2 USD
41
BGF India Fund A2 and C2 USD
42
BGF Japan Small & MidCap Opps A2 and C2 USD
43
BGF Japan Value A2 and C2 USD
44
BGF Latin American A2 and C2 USD
45
BGF Natural Resources Growth & Income A2 USD
46
BGF New Energy A2 and C2 USD
47
BGF North American Equity Income A2 and C2 USD
48
BGF Pacific Equity A2 and C2 USD
49
BGF Renminbi Bond A2 and C2 USD
50
BGF United Kingdom A2 USD
51
BGF US Basic Value A2 and C2 USD
52
BGF US Dollar Core Bond A2 and C2 USD
53
BGF US Dollar Reserve A2 and C2 USD
54
BGF US Flexible Equity A2 and C2 USD
EUR-H1
87
Franklin Brazil Opportunities Fund Class A (Qdis) HKD and
USD
88
Franklin Brazil Opportunities Fund Class N (Acc) USD and
EUR-H1
89
Franklin Brazil Opportunities Fund Class N (Qdis) USD
90
Franklin European Growth Fund Class A and N (Acc) EUR
91
Franklin Mutual Beacon Fund Class A (Ydis) USD
92
Franklin Mutual Beacon Fund Class A and N (Acc) USD
93
Franklin Strategic Income Fund Class A (Acc) USD
94
Franklin Strategic Income Fund Class A (Mdis) USD
95
Franklin U.S. Opportunities Fund Class A (Acc) USD
96
Franklin U.S. Opportunities Fund Class N (Acc) USD
97
INVESCO GT Asean Fund – Share Class A and C
98
INVESCO GT Asia Enterprise Fund – Share Class A, C and E
99
INVESCO GT Bond Fund – Share Class A and C
100
INVESCO GT Continental European Fund – Share Class A
and C
101
INVESCO GT Developing Markets Fund – Share Class A
and C
102
INVESCO GT Dollar Reserve Fund – Share Class A, C and E
103
INVESCO GT Emerging Markets Bond Fund – Share Class
A and C
104
INVESCO GT European Bond Fund – Share Class A, C and
E
55
BGF US Government Mortgage A2 and C2 USD
56
BGF US Growth A2 and C2 USD
57
BGF US Small & MidCap Opps A2 and C2 USD
106
INVESCO GT Healthcare Fund – Share Class A and C
58
BGF USD High Yield Bond A2 and C2 USD
107
INVESCO GT Investment Fund – Share Class A and C
59
BGF USD Short Duration Bond A2 and C2 USD
108
INVESCO GT Japan Enterprise Fund – Share Class A and C
60
BGF World Agriculture A2 and C2 USD
109
INVESCO GT Japan Fund – Share Class A and C
110
INVESCO GT Korea Fund – Share Class A and C
61
BGF World Bond A2 and C1 USD
62
BGF World Energy A2 and C2 USD
105
INVESCO GT Greater China Opportunities Fund – Share
Class A, C and E
111
INVESCO GT Latin America Fund - Share Class A and C
63
BGF World Financials A2 and C2 USD
112
INVESCO GT Leisure Fund – Share Class A, C and E
64
BGF World Gold A2 and C2 USD
113
INVESCO GT Newly Industr. Countries Fund – Share Class
65
BGF World Healthscience A2 and C2 USD
A and C
129
114
INVESCO GT North America Fund – Share Class A, C and E
115
INVESCO GT Pan European Enterprise Fund – Share Class
A, C and E
116
INVESCO GT Technology Fund – Share Class A and C
118
INVESCO GT Telecommunications Fund – Share Class A
and C
120
INVESCO Taiwan Growth Fund - Share Class A and C
122
Legg Mason Batterymarch Asia Pacific Equity Fund, Class
A, C and E Distr. (A)
123
Legg Mason Batterymarch Asia Pacific Equity Fund, Class
A, C and E Acc.
124
Legg Mason Batterymarch Emerging Markets Equity Fund,
Class A and C Distr. (A)
125
Legg Mason Batterymarch Emerging Markets Equity Fund,
Class A, C and E Acc.
126
Legg Mason Batterymarch European Equity Fund, Class A
and C Acc.
127
Legg Mason Batterymarch European Equity Fund, Class A
and C Distr. (A)
128
Legg Mason Brandywine Global Fixed Income Absolute
Return Fund, Class A Acc.
129
Legg Mason Brandywine Global Fixed Income Fund, Class
A and C Acc.
130
Legg Mason Brandywine Global Fixed Income Fund, Class
A and C Distr. (S)
131
Legg Mason ClearBridge US Aggressive Growth Fund,
132
Legg Mason ClearBridge US Aggressive Growth Fund,
Class A, C and E Distr. (A)
133
Legg Mason ClearBridge US Appreciation Fund, Class A, C
and E Acc.
134
Legg Mason ClearBridge US Appreciation Fund, Class A, C
and E Distr. (A)
135
Legg Mason ClearBridge US Fundamental Value Fund,
Class A and C Acc.
136
Legg Mason ClearBridge US Fundamental Value Fund,
Class A and C Distr. (A)
137
Legg Mason ClearBridge US Large Cap Growth Fund, Class
A and C Acc.
138
Legg Mason ClearBridge US Large Cap Growth Fund, Class
A and C Distr. (A)
139
Legg Mason Royce Smaller Companies Fund, Class A, C
and E Acc.
140
Legg Mason Royce Smaller Companies Fund, Class A, C
and E Distr. (A)
141
Legg Mason Royce US Small Cap Opportunity Fund, Class
A, C and E Acc.
142
Legg Mason Royce US Small Cap Opportunity Fund, Class
A, C and E Distr. (A)
143
Legg Mason Western Asset Asian Opportunities Fund,
144
Legg Mason Western Asset Asian Opportunities Fund,
Class A, C and E Distr. (D)
145
Legg Mason Western Asset Brazil Equity Fund, Class A
Distr. (A)
Legg Mason Western Asset Emerging Markets Corporate
Bond Fund, Class A Distr. (M)
149
Legg Mason Western Asset Global Blue Chip Bond Fund,
150
Legg Mason Western Asset Global Blue Chip Bond Fund,
Class A, C and E Distr. (M)
INVESCO Maximum Income Fund – Share Class A
121
Legg Mason Western Asset Emerging Markets Bond Fund,
148
INVESCO GT Worldwide Dynamic Theme Fund – Share
Class A, C and E
Legg Mason Western Asset Emerging Markets Bond Fund,
Class A and C Acc.
147
INVESCO GT Pan European Fund – Share Class A, C and E
117
119
146
151
Legg Mason Western Asset Global High Yield Fund, Class
A, C and E Acc.
152
Legg Mason Western Asset Global High Yield Fund, Class
A, C and E Distr. (D)
153
Legg Mason Western Asset Global Multi Strategy Fund,
154
Legg Mason Western Asset Global Multi Strategy Fund,
155
Legg Mason Western Asset US Core Plus Bond Fund, Class
A and C Acc.
156
Legg Mason Western Asset US Core Plus Bond Fund, Class
A and C Distr. (D)
157
Legg Mason Western Asset US High Yield Fund, Class A, C
and E Acc.
158
Legg Mason Western Asset US High Yield Fund, Class A, C
and E Distr. (D)
159
Morgan Stanley Investment Funds Asian Equity Fund Class
A, B, I and Z
160
Morgan Stanley Investment Funds Asian Property Fund
Class A, B, I and Z
161
Morgan Stanley Investment Funds Asia-Pacific Equity Fund
(USD) Class A, B, C, N and Z
162
Morgan Stanley Investment Funds Diversified Alpha Plus
Fund (Euro) Class A, B, I and Z
163
Morgan Stanley Investment Funds Emerging Europe, Middle East and Africa Equity Fund Class A, B, I and Z
164
Morgan Stanley Investment Funds Emerging Markets Corporate Debt Fund (USD) Class A, AX, B, BX, C and Z
165
Morgan Stanley Investment Funds Emerging Markets Debt
Fund Class A, B, BX, I and Z
166
Morgan Stanley Investment Funds Emerging Markets Domestic Debt Fund (USD) Class A, AX, BX, I and Z
167
Morgan Stanley Investment Funds Emerging Markets Equity Fund Class A, B, I and Z
168
Morgan Stanley Investment Funds Euro Bond Fund Class
A, B, I and Z
169
Morgan Stanley Investment Funds Euro Corporate Bond
Fund Class A, B, BX, I and Z
170
Morgan Stanley Investment Funds Euro Liquidity Fund
Class A, B, C, I and Z
171
Morgan Stanley Investment Funds Euro Strategic Bond
Fund Class A, AX, B, BX, C, I and Z
172
Morgan Stanley Investment Funds European Currencies
High Yield Bond Fund Class A, AX, B, BX, C, I and Z
173
Morgan Stanley Investment Funds European Equity Alpha
Fund Class A, AX, B, I and Z
174
Morgan Stanley Investment Funds European Property Fund
Class A, B, I and Z
175
Morgan Stanley Investment Funds Eurozone Equity Alpha
Fund Class A, B, I and Z
176
Morgan Stanley Investment Funds Global Balanced Risk
Control Fund of Funds (Euro) Class A, B and Z
177
Morgan Stanley Investment Funds Global Bond Fund
180
181
Abbott Laboratories
Alcoa Inc
4
Altria Group, Inc.
Morgan Stanley Investment Funds Global Convertible Bond
5
Amazon Com Inc
(USD) Fund Class A, B, I and Z
6
American Express Company
Morgan Stanley Investment Funds Global Equity Allocation
7
American International Group Inc
Fund (USD) Class A, B and Z
8
Amgen Inc
9
Apple Inc
10
At&T Inc
Morgan Stanley Investment Funds Global Brands Fund
Morgan Stanley Investment Funds Global Fixed Income
Opportunities Fund (USD) Class A, AX, B, BX, and Z
182
183
Morgan Stanley Investment Funds Global High Yield Bond
11
Automatic Data Processing Inc
Fund (USD) Class A, AX, B, BX, Z and ZX
12
Avon Products Inc
Morgan Stanley Investment Funds Global Infrastucture
Fund Class A, B, C and Z
184
Morgan Stanley Investment Funds Global Mortage Securities Fund Class A, AX, B, C, CX, I, Z and ZX
185
Morgan Stanley Investment Funds Global Opportunity
Bond (USD) Fund Class A, B, C and Z
186
Morgan Stanley Investment Funds Global Property Fund,
Class A, B, I, IX and Z
187
188
189
190
191
13
Bank Of America Corp
14
Biogen Idec Inc.
15
Boeing Co
16
Caterpillar Inc
17
Chesapeake Utilities Corp
18
Chevron Corp
19
Cisco Systems, Inc.
20
Citigroup Inc
21
Coca Cola Co
Morgan Stanley Investment Funds Japanese Equity Fund,
22
Comcast Corp
23
Costco Wholesale Corp /New
Morgan Stanley Investment Funds Latin American Equity
24
CVS Health Corporation
Fund Class A, B, I and Z
25
Directv
Morgan Stanley Investment Funds Short Maturity Euro
26
Dupont E I De Nemours & Co
Bond Fund Class A, B, I and Z
27
Ebay Inc
Morgan Stanley Investment Funds US Advantage Fund
28
EMC Corp
29
Express Scripts Holding Co.
30
Exxon Mobil Corp
Morgan Stanley Investment Funds Indian Equity Fund,
Class A, B, I and Z
192
3m Co
2
(USD) Class A, AX, B, BX, C, I and Z
179
1
3
(USD) Class A, B, BX, C, I and Z
178
Foreign Stocks (79)
Morgan Stanley Investment Funds US Dollar Liquidity Fund
Class A, AX, B, BX, I and Z
31
Facebook Inc
32
Freeport Mcmoran Inc.
33
General Electric Co
Class A, B, I and Z
34
Geopark Limited
Templeton Asian Growth Fund Class A and N (Acc) USD
35
Gilead Sciences Inc
Templeton Asian Growth Fund Class A (Ydis) USD
36
Google Inc-Cl A
197
Templeton Bric Fund Class A (Acc) USD
37
Google Inc-Cl C
198
Templeton Bric Fund Class N (Acc) USD
38
Halliburton Co
Templeton Frontier Markets Fund A (Acc) USD
39
Hewlett Packard Co
200
Templeton Frontier Markets Fund A (Ydis) USD
40
Home Depot Inc
201
Templeton Frontier Markets Fund N (Acc) EUR
41
Honeywell International Inc
Templeton Global Total Return Fund Class A (Mdis) USD
42
Intel Corporation
Templeton Global Total Return Fund Class A and N (Acc)
43
International Business Machines Corp
USD
44
Johnson & Johnson
193
Morgan Stanley Investment Funds US Growth Fund Class
A, B, I and Z
194
195
196
199
202
203
Morgan Stanley Investment Funds US Property Fund (USD)
Foreign Capital Investment Funds (1)
1
The Chile Fund Inc.
International Investment Funds (3)
1
Global Optimization International Investment Fund
2
Moneda Deuda Latinoamericana International Investment
Fund
3
Compass RF América Latina Investment Fund
45
Jpmorgan Chase & Co
46
Linkedin Corp
47
Mcdonalds Corp
48
Merck & Co. Inc.
49
Microsoft Corp
50
Mondelez International Inc.
51
Morgan Stanley
52
Newmont Mining Corp
53
Nike Inc
131
54
Oracle Corporation
23
iShares Russell 2000 ETF
55
Peabody Energy Corp
24
iShares iBoxx $ Investment Grade Corporate Bond ETF
56
Pepsico Inc
25
iShares 1-3 Year Treasury Bond ETF
57
Pfizer Inc
26
iShares U.S. Consumer Services ETF
58
Procter & Gamble Co/The
27
iShares U.S. Consumer Goods ETF
59
Qualcomm Inc/De
28
iShares U.S. Energy ETF
60
Staples Inc
29
iShares U.S. Financial ETF
30
iShares U.S. Real Estate ETF
61
Starbucks Corp
62
Target Corp
31
iShares U.S. Home Construction ETF
63
Texas Instruments Inc
32
iShares U.S. Basic Materials ETF
64
The Priceline Group Inc.
33
iShares U.S. Industrial ETF
65
Travelers Companies, Inc.
34
iShares U.S. Technology ETF
66
Union Pacific Corporation
35
iShares U.S. Telecommunications ETF
67
United Parcel Service Inc
36
iShares U.S. Utilities ETF
68
United States Steel Corp
37
iShares Global Energy ETF
69
United Technologies Corp /De/
38
iShares Global Financials ETF
70
Unitedhealth Group Inc
39
iShares Global Materials ETF
40
iShares S&P India Nifty 50 Index Fund
71
Us Bancorp \De\
72
Verizon Communications Inc
41
iShares Short Treasury Bond ETF
73
Visa Inc.
42
iShares iBoxx $ High Yield Corporate Bond
74
Volcán Compañía Minera S.A.A., classes A and B
43
iShares TIPS Bond ETF
75
Walmart Stores Inc
44
76
Walt Disney Co/
45
iShares Russell Midcap Index Fund
77
Wells Fargo & Company/Mn
46
iShares Russell Microcap Index Fund
78
Yahoo Inc
47
iShares MSCI Canada ETF
79
Yahoo Inc.
Chilean ADR’s (3)
48
iShares MSCI Israel Capped Investable Market Index Fund
49
iShares MSCI South Africa ETF
50
iShares MSCI Emerging Markets Eastern Europe ETF
1
Embotelladora Andina S.A., class A and B
51
iShares Silver Trust
2
52
iShares Gold Trust
3
Lan Airlines S.A.
53
iShares MSCI ACWI ex U.S. ETF
54
iShares MSCI ACWI ETF
Exchange Trade Funds - ETFs (102)
55
iShares MSCI Indonesia investable Market Index Fund
1
iShares MSCI All Country Asia ex Japan ETF
56
iShares MSCI Ireland Capped Investable Market Index Fund
2
iShares MSCI BRIC ETF
57
iShares MSCI Poland Investable Market Index Fund
3
iShares MSCI Chile Investable Market Index Fund
58
iShares MSCI Brazil Small Cap ETF
4
iShares MSCI Emerging Markets ETF
59
iShares MSCI China Small Cap ETF
5
iShares MSCI EAFE ETF
60
iShares MSCI China ETF
6
iShares MSCI Pacific ex-Japan ETF
61
iShares Russell 1000 Growth ETF
7
iShares MSCI All Peru Capped ETF
62
8
iShares MSCI Australia ETF
63
iShares Russell 1000 value ETF
9
iShares MSCI Germany ETF
64
iShares Russell 2000 Growth ETF
iShares MSCI Hong Kong ETF
65
iShares Russell 2000 Value ETF
10
11
iShares MSCI Japan ETF
66
iShares Russell Midcap Growth Index Fund
12
iShares MSCI Singapore ETF
67
iShares Russell Midcap Value ETF
13
iShares MSCI Taiwan ETF
68
iShares S&P 500 Growth ETF
14
iShares MSCI United Kingdom ETF
69
iShares S&P 500 Value ETF
15
iShares MSCI Mexico Investable Market Index Fund
70
iShares MSCI France ETF
16
iShares MSCI South Korea ETF
71
iShares MSCI Malaysia ETF
17
iShares MSCI Brazil Capped ETF
72
iShares MSCI Spain Capped ETF
18
iShares MSCI EMU ETF
73
iShares MSCI Thailand Investable Market Index Fund
19
iShares China Large-Cap ETF
74
iShares MSCI Turkey Investable Market Index Fund
iShares Europe ETF
75
iShares MSCI Russia Capped ETF
21
iShares Latin America 40 ETF
76
iShares MSCI New Zealand Investable Market Index Fund
22
iShares Core S&P 500 ETF
77
iShares MSCI Philippines Investable Market Index Fund
20
78
iShares MSCI Italy Capped ETF
27
Coltejer S.A.
79
iShares MSCI Switzerland Capped ETF
28
Compañía Agrícola San Felipe S.A.
80
iShares MSCI Netherland Investable Market Index Fund
29
Compañía de Electricidad de Tulúa S.A. SEP.
Compañía de Empaques S.A.
81
iShares MSCI Japan Small-Cap ETF
30
82
iShares MSCI EAFE Small-Cap ETF
31
Construcciones Civiles S.A.
83
Market Vectors Agribusiness ETF
32
Construcciones El Cóndor S.A
84
Market Vectors Brazil Small Cap ETF
33
Constructora Conconcreto S.A.
85
Market Vectors China ETF
34
Coomeva Entidad Promotora de Salud S.A.
86
Market Vectors Coal ETF
35
Corporación de Ferias y Exposiciones S.A.
87
Market Vectors Egypt Index ETF
36
Corporación Financiera Colombiana S.A.
88
Market Vectors Emerging Markets Local Currency Bond ETF
37
Ecopetrol S.A.
89
Market Vectors Global Alternative Energy ETF
38
Edatel S.A. E.S.P.
90
Market Vectors Gold Miners ETF
39
Empresa de Energía de Bogotá S.A. E.S.P.
91
Market Vectors India Small Cap Index ETF
40
Empresa de Energía del Pacífico S.A. E.S.P.
92
Market Vectors Indonesia Index ETF
41
Empresa de Telecomunicaciones de Bogotá S.A. E.S.P.
93
Market Vectors Junior Gold Miners ETF
42
Enka de Colombia S.A.
94
Market Vectors LatAm Aggregate Bond ETF
43
Fabricato S.A.
95
Market Vectors Poland ETF
44
Fogansa S.A.
96
Market Vectors Rare Earth/ Strategic Metals ETF
45
Fondo Bursátil Horizons Colombia Select de S&P
97
Market Vectors Russia ETF
46
Fondo Bursátil Horizons Mila 40 de S&P
98
Market Vectors Russia Small Cap ETF
47
Fondo Bursátil Ishares Colcap
99
Market Vectors Natural Resources ETF
48
Fondo Ganadero de Córdoba S.A.
Market Vectors Steel ETF
49
Fondo Ganadero del Tolima S.A.
Market Vectors Uranium+Nuclear Energy ETF
50
Gas Natural del Oriente S.A. E.S.P.
100
101
102
Market Vectors Vietnam ETF SLX Market Vectors Steel ETF
Colombian Stocks on MILA Market (77)
51
Gas Natural S.A. E.S.P.
52
Grupo Argos S.A
53
Grupo Aval Acciones y Valores S.A.
54
Grupo de Inversiones Suramericana S.A
1
Acerías Paz del Rió S.A.
2
Administradora de Fondos de Pensiones y Cesantías
55
Grupo Nutresa S.A.
Protección
56
Grupo Orbis S.A.
3
Agroguachal S.A.
57
Industrias Estra S.A.
4
Alimentos Derivados de la Caña S.A.
58
Interconexión Eléctrica S.A. E.S.P.
5
Almacenes Éxito S.A.
59
Inversiones Equipos y Servicios S.A.
6
Avianca Holdings S.A.
60
Inversiones Venecia S.A.
7
Banco Bilbao Vizcaya Argentaria Colombia S.A. BBVA
61
Isagen S.A. E.S.P.
Colombia
62
Manufacturas de Cemento S.A.
8
Banco Comercial Av. Villas S.A.
63
Mayagüez S.A.
9
Banco Davivienda S.A.
64
Mineros S.A.
10
Banco de Bogotá S.A.
65
Organización de Ingeniería Internacional S.A.
11
Banco de Occidente S.A.
66
Organización Terpel S.A
12
Banco Popular S.A.
67
Pacific Rubiales Energy Corp
13
Bancolombia S.A.
68
Productos Familia S.A.
14
Biomax Biocombustibles S.A.
69
Promigas S.A. E.S.P.
15
BMC Bolsa Mercantil de Colombia S.A
70
R.C.N. Televisión S.A.
16
Bolsa de Valores de Colombia S.A.
71
Riopaila Agrícola S.A.
17
Caracol Energy Ltd.
72
Riopaila Castilla S.A.
18
Caracol Televisión S.A.
73
Sociedades Bolívar S.A.
19
Cartón de Colombia S.A.
74
Tablemac S.A.
Carvajal Empaques S.A
75
Valorem S.A.
21
Castilla Agrícola S.A
76
Valores Industriales S.A.
22
Celsia S.A. E.S.P
77
Valores Simesa S.A.
23
Cementos Argos S.A
24
Cemex Latam Holdings S.A
25
Clínica de Marly S.A.
26
Colombina S.A.
20
133
Mexican Stocks on MILA Market (144)
1
Accel, S.A.B. de C.V.
2
49
Farmacias Benavides, S.A.B. de C.V.
50
Financiera Independencia, S.A.B. de C.V. Sofom, E.N.R.
51
First Majestic Silver Corp.
Actinver Casa de Bolsa, S.A. de C.V. Grupo Financiero
52
Fomento Económico Mexicano, S.A.B. de C.V.
Actinver, Div. Fiduciaria
53
Fresnillo PLC
3
Agro Industrial Exportadora, S.A. de C.V.
54
G Collado, S.A.B. de C.V.
4
Alfa, S.A.B. de C.V.
55
General de Seguros, S.A.B.
5
Alpek, S.A.B. de C.V.
56
Genomma Lab Internacional, S.A.B. de C.V.
6
Alsea, S.A.B. de C.V.
57
Gruma, S.A.B. de C.V.
7
Altos Hornos de México, S.A. de C.V.
58
Grupe, S.A.B. de C.V.
8
América Móvil, S.A.B. de C.V.
59
Grupo Aeroméxico, S.A.B. de C.V.
9
Arca Continental, S.A.B. de C.V.
60
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V.
10
Axtel, S.A.B. de C.V.
61
Grupo Aeroportuario del Pacífico, S.A.B. de C.V.
11
Banco Bilbao Vizcaya Argentaria, S.A.
62
Grupo Aeroportuario del Sureste, S.A.B. de C.V.
12
Banco Invex, S.A., Institución de Banca Múltiple, Invex
63
Grupo Bafar, S.A.B. de C.V.
Grupo Financiero
64
Grupo Bimbo, S.A.B. de C.V.
Banco Nacional de México, S.A. Grupo Financiero
65
Grupo Carso, S.A.B. de C.V.
66
Grupo Casa Saba, S.A.B. de C.V.
67
Grupo Cementos de Chihuahua, S.A.B. de C.V.
68
Grupo Comercial Chedraui, S.A.B. de C.V.
69
Grupo Comercial Gomo, S.A. de C.V.
70
Grupo Elektra, S.A.B. de C.V.
71
Grupo Famsa, S.A.B. de C.V.
72
Grupo Financiero Banorte, S.A.B de C.V.
73
Grupo Financiero Inbursa, S.A.B. de C.V.
13
Banamex, Div. Fiduciaria
14
Banco Nacional de México, S.A., Integrante del Grupo
Financiero Banamex
15
Banco Santander, S.A.
16
BANREGIO Grupo Financiero, S.A.B. de C.V.
17
Bio Pappel, S.A.B. de C.V.
18
Bolsa Mexicana de Valores, S.A.B. de C.V.
19
Casa de Bolsa Finamex, S.A.B. de C.V.
20
Cemex, S.A.B. de C.V.
21
Citigroup Inc.
22
CMR, S.A.B. de C.V.
23
Coca-Cola Femsa, S.A.B. de C.V.
24
Compañía Minera Autlan, S.A.B. de C. V.
25
Compartamos, S.A.B. de C.V.
26
Consorcio Ara, S.A.B. de C.V.
27
Consorcio Aristos, S.A.B. de C.V.
28
Consorcio Hogar, S.A.B. de C.V.
29
Controladora Comercial Mexicana, S.A.B. de C.V.
30
Controladora Vuela Compañía de Aviación, S.A.B. de C.V.
31
Convertidora Industrial, S.A.B. de C.V.
32
Corporación Actinver, S.A.B. de C.V.
33
Corporación Geo, S.A.B. de C.V.
34
Corporación Inmobiliaria Vesta, S.A.B. de C.V.
35
Corporación Interamericana de Entretenimiento, S.A.B. de
C.V.
36
Corporación Moctezuma, S.A.B. de C.V.
37
Corporativo Fragua, S.A.B. de C.V.
38
Corporativo GBM, S.A.B. de C. V.
39
40
Crédito Real, S.A.B. de C.V., Sofom, E.N.R.
CYDSA, S.A.B. de C.V.
74
Grupo Financiero Interacciones, S.A. de C.V.
75
Grupo Financiero Multiva S.A.B. de C.V.
76
Grupo Financiero Santander México, S.A.B. de C.V.
77
Grupo Gigante, S.A.B. de C.V.
78
Grupo Herdez, S.A.B. de C.V.
79
Grupo Hotelero Santa Fe S.A.B. de C.V.
80
Grupo Industrial Maseca, S.A.B. de C.V.
81
Grupo Industrial Saltillo, S.A.B. de C.V.
82
Grupo Kuo, S.A.B. de C.V.
83
Grupo Lala, S.A.B. de C.V.
84
Grupo Lamosa, S.A.B. de C.V.
85
Grupo Mexicano de Desarrollo, S.A.B.
86
Grupo México, S.A.B. de C.V.
87
Grupo Minsa, S.A.B. de C.V.
88
Grupo Modelo, S.A.B. de C.V.
89
Grupo Nacional Provincial, S.A.B.
90
Grupo Palacio de Hierro, S.A.B. de C.V.
91
Grupo Pochteca, S.A.B. de C.V.
92
Grupo Posadas, S.A.B. de C.V.
93
Grupo Profuturo, S.A.B. de C.V.
94
Grupo Qumma, S.A. de C.V.
95
Grupo Radio Centro, S.A.B. de C.V.
96
Grupo Sanborns, S.A.B. de C.V.
División Fiduciaria
97
Grupo Simec, S.A.B. de C.V.
43
Deutsche Bank México, S.A., Institución de Banca Múltiple
98
Grupo Sports World, S.A.B. de C.V.
44
DINE, S.A.B. de C.V.
99
Grupo Televisa, S.A.B.
41
42
45
Desarrolladora Homex, S.A.B. de C.V.
Deutsche Bank México, S.A. Institución de Banca Múltiple,
Edoardos Martin, S.A.B. de C.V.
100
Grupo Tmm, S.A.
101
Grupo Vasconia S.A.B.
46
El Puerto de Liverpool, S.A.B. de C.V.
47
Empresas Cablevisión, S.A. de C.V.
102
Hilasal Mexicana S.A.B. de C.V.
Empresas Ica, S.A.B. de C.V.
103
Holding Monex, S.A.B. de C.V.
48
104
Hoteles City Express, S.A.B. de C.V.
105
Impulsora del Desarrollo y el Empleo en América Latina,
S.A.B. de C.V.
9
10
Agroindustrias San Jacinto S.A.A.
Agrokasa Holdings S.A.
11
Alicorp S.A.A.
106
Industria Automotriz, S.A. de C.V.
12
Alturas Minerals Corp.
107
Industrias Bachoco, S.A.B. de C.V.
13
Ameral S.A.A.
108
Industrias Ch, S.A.B. de C.V.
14
Amerigo Resources Ltd.
109
Industrias Peñoles, S. A.B. de C. V.
15
Amérika Financiera S.A.
Infraestructura Energética Nova, S.A.B. de C.V.
16
Andeangold Ltd.
111
INGEAL, S.A.B. de C.V.
17
Andino Investment Holding S.A.A.
112
Inmuebles Carso, S.A.B. de C.V.
18
Aseguradora Magallanes Perú S.A. Compañía de Seguros
113
Internacional de Cerámica, S.A.B. de C.V.
19
Austral Group S.A.A.
114
INVEX Controladora, S.A.B. de C.V.
115
Kimberly - Clark de México S.A.B. de C.V.
21
Banco Cencosud S.A.
116
La Latinoamericana Seguros, S.A.
22
Banco de Comercio
117
Maxcom Telecomunicaciones, S.A.B. de C.V.
23
Banco de Crédito del Perú
118
Médica Sur, S.A.B. de C.V.
24
Banco Falabella Perú S.A.
119
Megacable Holdings, S.A.B. de C.V.
25
Banco Financiero del Perú
Mexichem, S.A.B. de C.V.
26
Banco GNB Perú S.A.
121
Minera Frisco, S.A.B. de C.V.
27
Banco Interamericano de Finanzas S.A. – Bif
122
Nacional Financiera, S.N.C., Institución de Banca de Desar-
28
Banco Internacional del Perú S.A.A. – Interbank
rollo
29
Banco Ripley Perú S.A.
123
Ohl México, S.A.B. de C.V.
30
Banco Santander Perú S.A.
124
Organización Cultiba, S.A.B. de Cv
31
Bayer S.A.
125
Organización Soriana, S.A.B. de C.V.
32
BBVA Banco Continental
126
Peña Verde S.A.B.
33
BNP Paribas Cardif S.A. Compañía de Seguros y Reaseguros
127
Procorp, S.A. de C.V., Sociedad de Inv. de Capital de Riesgo
34
Bolsa de Valores de Lima S.A.
128
Promotora Ambiental, S.A.B. de C.V.
35
Braja Constructora Inmobiliaria S.A.
129
Promotora y Operadora de Infraestructura, S.A.B. de C.V.
36
British American Tobacco del Perú Holdings S.A.A. (Bat
130
Proteak Uno, S.A.B. de C.V.
131
Q.B. Industrias, S.A. de C.V.
37
Cartavio Sociedad Anónima Abierta (Cartavio S.A.A.)
132
Quálitas Controladora, S.A.B. de C.V.
38
Casa Grande Sociedad Anónima Abierta
133
Real Turismo S.A. de C.V.
39
Castrovirreyna Compañía Minera S.A.
134
SanLuis Corporación, S.A.B. de C. V.
40
Cavali S.A. I.C.L.V.
135
SARE Holding, S.A.B. de C.V.
41
Cema Comunicaciones S.A. undergoing liquidation
136
Savia, S.A. de C.V.
42
Cementos Lima S.A.
137
Tekchem, S.A.B. de C.V.
43
Cementos Pacasmayo S.A.A.
138
Tenaris S.A.
44
Central Azucarera Chucarapi Pampa Blanca S.A.
139
The Bank Of New York Mellon, S.A., Institución de Banca
45
Cervecería San Juan S.A.
46
Citibank del Perú S.A. – Citibank Perú
110
120
Múltiple
140
Tv Azteca, S.A.B. de C.V.
141
Urbi Desarrollos Urbanos, S.A.B. de C.V.
142
Value Grupo Financiero, S.A.B. de C.V.
143
Vitro, S.A.B. de C.V.
144
Walmart de México, S.A.B. de C.V.
Peruvian Stocks on MILA Market (242)
1
A.F.P. Integra S.A.
2
ACE Seguros S.A. Compañía de Seguros y Reaseguros
3
Administradora del Comercio S.A.
4
AFP Habitat S.A.
5
Agro Industrial Paramonga S.A.A.
6
Agro Pucala S.A.A.
7
Agroindustrial Laredo S.A.A.
8
Agroindustrias Aib S.A.
20
Banco Azteca del Perú S.A.
Holdings S.A.A.)
47
Comercial del Acero S.A.
48
Compañía de Minas Buenaventura S.A.A.
49
Compañía de Seguros de Vida Cámara S.A.
50
Compañía Goodyear del Perú S.A.
51
Compañía Minera Atacocha S.A.A.
52
Compañía Minera Milpo S.A.A.
53
Compañía Minera Poderosa S.A.
54
Compañía Minera Raura S.A.
55
Compañía Minera San Ignacio de Morococha S.A.A.
56
Compañía Minera Santa Luisa S.A.
57
Compañía Universal Textil S.A.
58
Compañías de Minas Buenaventura S.A.A.
59
Compartamos Financiera S.A.
60
Compass - Pyme Investment Fund
61
Consorcio Cementero del Sur S.A. – Concesur S.A.
62
Consorcio Industrial de Arequipa S.A.
135
63
Construcciones Electromecánicas Delcrosa
64
Coril Instrumentos de Corto y Mediano Plazo 1
Fondo de Inv
65
66
70
71
112
Enersur S.A.
Fondo de Inv
113
Exsa S.A.
114
Fábrica de Hilados y Tejidos San Miguel S.A.
115
Fábrica Nacional de Acumuladores Etna S.A.
116
Fábrica Peruana Eternit S.A.
117
Factoring Total S.A.
118
Falabella Perú S.A.A.
119
Faro Capital Inmobiliario I Investment Fund
Coril Instrumentos Financieros 5
Coril Instrumentos Financieros 7
Corporación Aceros Arequipa S.A.
Corporación Cerámica S.A.
Corporación Cervesur S.A.A.
72
Corporación Financiera de desarrollo S.A.
73
Corporación Financiera de Inversiones S.A.
74
Corporación Funeraria S.A.
75
Corporación Lindley S.A.
76
Credicorp Capital Perú S.A.A.
77
78
Credicorp Ltd.
Crediscotia Financiera S.A.
79
Creditex S.A.A.
80
Desarrollos Siglo XXI S.A.A.
81
82
Deutsche Bank (Perú) S.A.
DIVISO Grupo Financiero S.A.
83
Dunas Energía S.A.A.
84
Duran Ventures Inc.
85
Edegel S.A.A.
86
Edelnor S.A.A.
87
El Pacífico – Peruano Suiza Cía. de Seguros y Reaseguros
88
89
90
Empresa Siderurgica del Perú S.A.A.
Energía del Pacífico S.A.
Investment Fund
69
Empresa Financiera Edyficar S.A.
Investment Fund
68
110
111
Fondo de Inv
67
109
El Pacífico Vida Compañía de Seguros Y Reaseguros S.A.
Electro Dunas S.A.A.
Electro Puno S.A.A.
120
Ferreycorp S.A.A.
121
Filamentos Industriales S.A.
122
Financiera Confianza S.A.A.
123
Financiera Efectiva S.A.
124
Financiera Nueva Visión S.A.
125
Financiera Proempresa S.A.
126
Financiera Qapaq S.A.
127
Financiera TFC S.A.
128
Financiera Uno S.A.
129
Multirenta Inmobiliaria Investment Fund
130
Fortuna Silver Mines Inc.
131
Fosfatos del Pacífico S.A. – Fospac S.A.
132
Futura Consorcio Inmobiliario S.A.
133
Generandes Peru S.A.
134
Gloria S.A.
135
GR Holdings S.A.
136
Graña y Montero S.A.A.
137
Hidrostal S.A.
138
Hipotecaria Sura EAH
139
ICBC Perú Bank S.A.
140
IFH Perú Ltd.
141
Indeco S.A.
142
Industria Textil Piura S.A.
S.A.- Hidrandina
143
Industrias del Envase S.A.
Emp. Reg. de Serv. Público de Electricidad – Electrosur S.A.
144
Industrias Electro Químicas S.A. – Ieqsa
Empresa Agraria Azucarera Andahuasi S.A.A.
145
Inmobiliaria IDE S.A.
Empresa Agraria Chiquitoy S.A. - en Reestructuración
146
Inmobiliaria Milenia S.A.
96
Empresa Agrícola Ganadera Salamanca S.A.
147
Inmuebles Panamericana S.A.
97
Empresa Agrícola La Unión S.A.
148
Inretail Perú Corp.
Empresa Agrícola San Juan S.A.
149
Insur S.A. Compañía de Seguros
Empresa Agrícola Sintuco S.A.
150
Intercorp Financial Services Inc.
91
92
93
94
95
98
99
Electro Sur Este S.A.A.
Emp. Reg. de Serv. Público de Electr. Electronorte Medio
151
Internacional de Títulos Sociedad Titulizadora S.A.
Empresa Agroindustrial Pomalca S.A.A.
152
Interseguro Compañía de Seguros S.A.
Empresa Agroindustrial Tuman S.A.A.
153
Intradevco Industrial S.A.
103
Empresa Azucarera “El Ingenio” S.A.
154
Inversiones Aspi S.A.
104
Empresa de Generación Eléctrica del Sur
155
Inversiones Centenario S.A.A.
Empresa de Generación Eléctrica San Gaban S.A.
156
Inversiones en Turismo S.A. – Invertur
Empresa Editora El Comercio S.A.
157
Inversiones Financieras del Perú S.A.
107
Empresa Eléctrica de Piura S.A.
158
Inversiones La Rioja S.A.
108
Empresa Electricidad del Perú – Electroperú S.A.
159
Inversiones Nacionales de Turismo S.A. – Intursa
160
Karmin Exploration Inc.
100
101
102
105
106
Empresa Agroindustrial Cayalti S.A.A.
161
La Positiva Seguros y Reaseguros S.A.
216
Servicio de Agua Potable y Alcantarillado de Lima – Sedapal
162
La Positiva Vida Seguros y Reaseguros S.A.
217
Shougang Generación Eléctrica S.A.A.
163
Laive S.A.
218
Shougang Hierro Perú S.A.A.
164
Latina Holding S.A.
219
Sierra Metals Inc.
165
Leasing Perú S.A.
220
166
Leasing Total S.A.
221
Sociedad Agrícola Fanupe Vichayal S.A.
167
Lima Caucho S.A.
222
Sociedad Eléctrica del Sur Oeste S.A. – Seal
Sigma - Leasing Operativo - Leasop I Investment Fund
168
Lima Gas S.A.
223
Sociedad Industrial de Artículos de Metal S.A.C. – Siam
169
Los Portales S.A.
224
Sociedad Minera Cerro Verde S.A.A.
170
Luna Gold Corp.
225
Sociedad Minera Corona S.A.
171
Lupaka Gold Corp.
226
Sociedad Minera El Brocal S.A.A.
172
Luz del Sur S.A.A.
227
Solución Empresa Administradora Hipotecaria S.A.
173
Maestro Perú S.A.
228
Southern Perú Copper Corporation – Sucursal del Perú
174
Manufactura de Metales y Aluminio “Récord” S.A.
229
Sunset Cove Mining Inc.
Supermercados Peruanos S.A. – Sp S.A.
175
Mapfre Perú Compañía de Seguros y Reaseguros S.A.
230
176
Mapfre Perú Vida Compañía de Seguros y Reaseguros
231
Southern Copper Corporation
177
Maple Energy PLC
232
TC Siglo 21 S.A.A.
178
Mármoles y Granitos S.A. (MYGSA)
233
Telefónica del Perú S.A.A.
179
Metalúrgica Peruana S.A. – Mepsa
234
Telefónica Móviles S.A.
180
MIBANCO Banco de la Micro Empresa S.A.
235
Textil San Cristóbal S.A. - undergoing liquidation
181
Michell y Cía. S.A.
236
Tradi S.A.
182
Minera Andina de Exploraciones S.A.A.
237
Transacciones Financieras S.A.
183
Minera IRL Limited
238
Trevali Mining Corporation
184
Minsur S.A.
239
Unión de Cervecerías Peruanas Backus y Johnston S.A.A.
185
Mitsui Auto Finance Perú S.A.
240
Vena Resources Inc.
186
Moche Inversiones S.A.
241
Volcán Compañía Minera S.A.A.
187
Motores Diesel Andinos S.A.
242
Zincore Metals Inc.
188
Negocios e Inmuebles S.A.
189
Norvial S.A.
190
Ohio National Seguros de Vida S.A.
191
Panoro Minerals Ltd.
192
Perú Holding de Turismo S.A.A.
193
Peruana de Energía S.A.A.
194
Peruana de Moldeados S.A. – PAMOLSA
195
Perubar S.A.
196
Pesquera Exalmar S.A.A.
197
Petróleos del Perú – Petroperú S.A.
198
Prima AFP S.A.
199
Profuturo A.F.P.
200
Protecta S.A. Compañía de Seguros
201
PVT Portafolio de Valores S.A.
202
Quimpac S.A.
203
Rayon Industrial S.A.
204
Reactivos Nacionales S.A. (Renasa)
205
Red Bicolor de Comunicaciones S.A.A.
206
Refinería La Pampilla S.A.A. - Relapa S.A.A.
207
Rigel Perú S.A. Compañía de Seguros de Vida
208
Rimac – Internacional Compañía de Seguros y Reaseguros
209
Río Alto Mining Limited
210
Río Cristal Resources Corporation
211
Rokmaster Resources Corp.
212
Saga Falabella S.A.
213
Scotiabank Perú S.A.A.
214
Secrex Compañía de Seguros de Crédito y Garantías S.A.
215
Seguros Sura
137
INVESTMENT FUND SHARE MARKET 125 ISSUERS
1
Aurus Insignia Investment Fund
51
iFund MSCI Brazil Small Cap Index Investment Fund
2
Aurus Renta Inmobiliaria Investment Fund
52
IM Trust - Patio Comercial I Investment Fund, class A and B
3
BICE Energías Renovables Investment Fund
53
IM Trust Inmobiliario-Aconcagua I Investment Fund
4
BICE Inmobiliario I Investment Fund
54
IM Trust Inmobiliario-Aconcagua II Investment Fund
5
BICE Inmobiliario II Investment Fund
55
IM Trust Private Equity - PG Direct I Investment Fund
6
BICE Inmobiliario III Investment Fund
56
IM Trust Private Equity - PG Direct II Investment Fund
7
BTC Pactual Private Equity - KKR Investment Fund
57
IM Trust Private Equity - PG Secondaries I Investment Fund
8
BTG Pactual Crédito y Facturas Investment Fund
58
IMT E Plus Investment Fund
9
BTG Pactual Desarrollo Inmobiliario I Investment Fund
59
IMT Private Equity AP I Investment Fund
10
BTG Pactual Desarrollo Inmobiliario II Investment Fund
60
IMT RF Latam Investment Fund
61
11
BTG Pactual Deuda Corporativa Chile Investment Fund
12
BTG Pactual Deuda Latinoamericana Investment Fund
13
BTG Pactual Deuda Total Investment Fund
62
IMT Trading Deuda Local Investment Fund
14
BTG Pactual Global Optimization Investment Fund
63
Independencia Rentas Inmobiliarias Investment Fund
15
BTG Pactual High Yield Latin America Investment Fund
64
Inmobiliaria Cimenta-Expansión Investment Fund
16
BTG Pactual Private Equity - KKR Naxi Investment Fund
65
Inmobiliaria Fundación Investment Fund
17
BTG Pactual Private Equity - NB CRXX Investment Fund
66
Inmobiliaria Las Américas-Raíces Investment Fund
BTG Pactual Private Equity Investment Fund
67
Inmobiliaria Santander Mixto Investment Fund
19
BTG Pactual Private Equity II Investment Fund
68
Inversiones Hoteleras Investment Fund
20
BTG Pactual Private Equity III Investment Fund
69
LarrainVial - BEAGLE Investment Fund
21
BTG Pactual Private Equity IV Investment Fund
70
LarrainVial - Brazil Small Cap Investment Fund
18
22
BTG Pactual Rentas Inmobiliarias Investment Fund
IMT Spread Corporativo Local Investment Fund, class B, D,
E and I
71
LarrainVial BCP Investment Fund
23
BTG Pactual Rentas Inmobiliarias II Investment Fund
72
LarrainVial Capitalizacion I Investment Fund
24
BTG Pactual Small Cap Chile Investment Fund
73
LarrainVial Court Square Investment Fund
25
Chile Small Cap Investment Fund
74
LarrainVial Deuda Con Subsidio Habitacional Investment
26
Compass Deuda Plus Investment Fund
27
Compass Private Equity III Investment Fund
28
Compass Private Equity IV Investment Fund
29
Compass Private Equity V Investment Fund
30
Compass Private Equity VII Investment Fund
31
32
Compass Private Equity X Investment Fund
Compass Small Cap Chile Investment Fund
33
Euroamérica Small Cap Chile Investment Fund
34
Asset Rentas Residenciales Investment Fund
35
Banchile Inmobiliario IV Investment Fund
36
Banchile Inmobiliario V Investment Fund
37
Banchile Inmobiliario VI Investment Fund
38
39
40
Banchile Inmobiliario VII Investment Fund
Banchile Plusvalía Eficiente Investment Fund
Banchile Rentas Inmobiliarias I Investment Fund
Fund
75
LarrainVial Deuda con Subsidio Habitacional II Investment
Fund, class A and X
76
LarrainVial Deuda Corporativa Investment Fund
77
LarrainVial Deuda Latam High Yield Investment Fund
78
LarrainVial Dover Investment Fund
79
LarrainVial Harbourvest EX-US Investment Fund
80
LarrainVial Harbourvest-US Investment Fund
81
LarrainVial Infraestructura Activa I Investment Fund
82
LarrainVial Pomona Investment Fund
83
LarrainVial Cordillera Investment Fund
84
LarrainVial Falcom Renta Fija México Investment Fund
85
LarrainVial Magallanes II Investment Fund
86
Latam Small - Mid Cap Investment Fund
87
Llaima Investment Fund, undergoing liquidation
88
Nevasa HMC CIP VI Investment Fund
liquidation
89
Nevasa HMC CVC Investment Fund
42
Bío Bío Investment Fund
90
Nevasa HMC PNTN Investment Fund
43
Chile Blend Investment Fund
44
Compass Private Equity Partners Investment Fund
45
Desarrollo de Empresas Citicorp Chile Investment Fund
41
46
BCI Desarrollo Inmobiliario Investment Fund, undergoing
48
49
50
Nevasa HMC Renta Fija Local Investment Fund, class A, B
and N
92
Nueva Energía I Investment Fund
93
Picton - Apollo COF III Investment Fund
94
Picton - Apollo VIII Investment Fund
Desarrollo Inmobiliario 2006 Investment Fund
95
Picton WP Investment Fund
Ecus AXA LBO Fund V Investment Fund
96
Prime-Infraestructura Investment Fund
EuroAmerica Investments High Yield Investment Fund
97
Público Infraestructura Global Investment Fund
Forestal Lignum Investment Fund, undergoing liquidation
98
Santander Plusvalía Investment Fund, undergoing liquida-
Desarrollo de Empresas Las Américas Emergente
Investment Fund
47
91
tion
Santander Small Cap Investment Fund
113
Moneda Latinoamérica Deuda Local Investment Fund
100
Security Oaktree Opportunities Investment Fund
114
Moneda Patagonia Investment Fund, class A, B, C, D and E
101
Security Oaktree Principal Fund Investment Fund
115
Moneda Renta CLP Investment Fund
102
SURA Renta Inmobiliaria Investment Fund
116
Moneda Renta Variable Chile Investment Fund
103
IM Trust Quant SVM Investment Fund
117
Moneda Small Cap Latinoamérica Investment Fund
104
Linzor BICE Private Equity II Investment Fund
118
Penta Fixed Income Latam Investment Fund
105
MBI Arbitrage Investment Fund
119
Penta Fixed Income Latam Investment Fund
106
MBI Best Ideas Latam Investment Fund
99
120
Penta Retorno Latinoamérica Investment Fund
107
MBI Global Investment Fund
121
Picton - American Scurities Partners VII Investment Fund
108
MBI Renta Fija Plus Dólar Investment Fund
122
Pionero Investment Fund
109
MBI Renta Fija Plus Investment Fund, class A, B and C
123
Siglo XXI Mobiliaria Investment Fund
Moneda - Alpinvest Investment Fund
124
Toesca Investment Fund undergoing liquidation
111
Moneda - Carlyle Investment Fund
125
Vision Rogge Global Income Investment Fund
112
Moneda Deuda Latinoamericana Investment Fund
110
MUTUAL FUND MARKET 9 ISSUERS
1
ETF IT Now Ipsa Mutual Fund
5
Corp Depósitos Mutual Fund, class X and Y
2
BCI Small & Mid Cap Ltam Mutual Fund, class AP, BP, C
6
Deuda Corporativa 3-5 Años Tax Advantage Mutual Fund
and I
7
Europe Equity Tax Advantage Mutual Fund
3
Bice EE.UU. Mutual Fund
8
IM Trust Índice Chile Mutual Fund
4
Corp Bonos Corporativos Mutual Fund, class X and I
9
USA Equity Tax Advantage Mutual Fund
www.bolsadesantiago.com

Securities Review 2014 06-26-2015 - Santiago Exchange

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3. Fund Management

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Informativo Bursátil - Bolsa Electrónica de Chile