In this way, the Peruvian firm assured that " no client will see their investment affected."
Credicorp Capital announced to its clients that it will purchase all of the shares issued by the funds called Credicorp Capital Factoring Soles FMIV and Credicorp Capital Factoring Dólares FMIV, which are invested in funds managed by the Chilean company Sartor Administradora General de Fondos SA (“Sartor”), at 100% of their value, so that no client's investment will be affected.
Through a press release, Credicorp Capital stated that, “considering that our clients are always at the center of all our decisions, we have made the decision not to make them wait for their investment and allow them to exit quickly and safely, through a purchase and sale of all their shares in the Credicorp Capital Factoring Soles FMIV and/or Credicorp Capital Factoring Dólares FMIV funds at 100% of their value, so that no client will see their investment affected. This payment will be made within the next 45 days.”
As is public knowledge, the Chilean Financial Market Commission (the “CMF”) recently ordered the suspension of contributions and subsequently the redemptions and payments of all funds managed by Sartor, the scope of which included the funds in which the Credicorp Capital Factoring Soles FMIV and Credicorp Capital Factoring Dólares FMIV funds were invested. Likewise, following a complaint filed by Credicorp Capital, the CMF issued a resolution on December 20, 2024 that (i) revoked Sartor's authorization to exist, and (ii) ordered the liquidation of the funds managed by said company.
For this reason, and aware that the liquidation process by the CMF may take time and that, to date, the value of the portfolio of funds managed by Sartor is uncertain and indeterminable, Credicorp Capital informed its clients of this decision. “In this way, you, our clients, will not be affected by the situation of Sartor. Credicorp Capital (directly or through one of its related companies) will put itself in your position as creditors of the latter and will take all necessary legal action so that the corresponding authorities can severely sanction those responsible for this unfortunate situation.”
The firm thanked its clients for their patience and understanding in the face of these events.
