Chile Raises Investment Limits

Chile’s central bank raised the limit that pension fund can invest abroad to 80% from 60% of their portfolio. The cap will be raised steadily over the next several months, moving to 65% December 1, then to 70% March 1, 2011, 75% June 1, and finally reaching 80% September 1. “This modification is in line with the government’s general economic policies,” the bank says.