The measure will be applied for a period of 30 days or until the administrator manages to correctly value the assets of the funds.
In a statement, Chile's Financial Market Commission (CMF) announced that it had "suspended the public offering, transaction and listing of shares of the funds managed by Sartor AGF on stock exchanges."
The measure was approved by the president of the regulator, Solange Berstein, and will be applied for a period of 30 days or "until the administrator manages to correctly value the assets of the funds."
The CMF explained that the decision was taken after receiving essential information from Sartor AGF yesterday, January 28, indicating that it had detected that, in the portfolios of some managed funds, there could be significant deteriorations in the valuation estimated by the previous administration of the AGF. "Although these deteriorations have not yet been properly quantified, the Administrator is taking the necessary measures to properly establish their scope," noted Sarto.
In response, the CMF argued that investors and the market in general do not have true, sufficient and timely information about the assets of the funds managed by this company and, therefore, about their correct valuation.
The shares of the funds listed on the Santiago Stock Exchange that are subject to this suspension are: Sartor Oportunidad y Desarrollo Inmobiliario USA (Series A and C); Sartor Capital Efectivo (A, I, Q), Sartor Facturas USD (A, B), Sartor Leasing (A, I, Q), Sartor Mid Mall, Sartor Proyección (A, B, I, Q), Sartor Renta Comercial, Sartor Táctico (A, I, B, Q), Sartor Táctico Internacional (A, I, Q) and Sartor Táctico Perú.
As a reminder, in December 2024, the CMF revoked the authorization of Sartor AGF's existence and appointed a liquidator. The regulator explained that it made this decision based on conclusive evidence that Sartor "has not performed its functions diligently" and that its business model reflects a pattern "based on the use of funds under its administration as financing vehicles for entities related to its directors and majority shareholders," in very significant proportions.
