LVAM’s “Manual de Administración de Conflictos de Interés” addresses the following COIs that have been identified:
Use of brokerage services of Larraín Vial Group:
Allocations between portfolios with the same investment objective:
Between the investment function and the Risk&Control function:
Between the Investment and Trading functions;
IPO’s where LarraínVial stock broker participates;
Personal operations of LVAM’s employees.
Voting and appointment of directors in companies where portfolios hold investments.
Furthermore, we have specific policies covering most of those matters:
Brokerage counterparty selection (‘Política de Selección de Intermediarios’).
Operations and transactions with related parties (“Política de Habitualidad”).
Trading orders execution and securities allocation (Best Execution Policy).
Personal investments (Manual de Operaciones Personales)
General meetings participation and voting. (Asistencia y Votación en Juntas de Accionistas)
All these policies have been approved by LVAM’s board and are reviewed on a yearly basis. LVAM’s corporate governance structure includes multiple layers of control.