Both in July – the last month of the analysis – and so far this year, Provida is the administrator with the best balance, while UNO of the AFP shows the worst result (for example, recorded 9,461 net outflows between January and July).
At the end of the analysis in July 2023, it was reported that the pension system Fund A led the transition between several funds that month; while E lost the most members.
In administrator, GIVEN AFP got the most incorporations, month to month and year to date.
In contrast, the AFP UNO showed the worst results in both seasons.
Switch between Multifunds
A total of 85,788 transfers between multifunds Recorded in July 2023, which represents a decrease of -25.6% compared to the previous month and -35.2% compared to the same month of 2022.
According to a bulletin from the consulting firm Ciedess, of the total transfers, 54% correspond to changes in the AFP itself, while the remaining 46% are moves to another entity.
“This involved movements for $1,889,057 million, equivalent to 1.2% of the pension funds managed that month,” said the consulting firm.
In July Fund A was the leader in affiliate preferences, with 6,805 net additions; while fund E recorded the opposite case, with -8,742 movements.
For their part, funds B, C and D got results of -2,121, 4,435 and -377 respectively.
However, Currently in 2023 (January-July), “fund C is the one with the largest number of transfers, with 33,226 net additions; while fund B registers the opposite case, with a net of -37,555 movements” Ciedess explained.
AFP UNO continues to lose members
By manager type, Ciedess reported that in July 2023 GIVEN AFP got the best result, with 1,029 additions.
The reverse case appears AFP ONE with a -1,101 net transfer.
A result repeated until now in 2023 (January-July), where Provida is the administrator with the best balance, with 9,874 net transfers, and UNO has the worst result, with -9,461 net departures.