El Ciudadano
Original article: Rentabilidades de los cinco fondos de las AFP anotaron «números rojos» en marzo: A y C los más afectados
The Superintendence of Pensions announced on Thursday, April 2, the details of the pension fund returns for the end of March, highlighting that all funds concluded the month with negative numbers.
In a statement, the entity explained that «global uncertainty due to the impact of the conflict in the Middle East on the oil industry, which has led to increased energy costs, rising inflation expectations, and signs of tighter financial conditions, severely impacted the profitability of all five Chilean pension funds in March, resulting in negative returns across the board.»
According to the report, in March 2026, the Type A and C funds were the worst affected, ending the month with a real drop of 3.02% and 2.52%, respectively.
The Type B fund followed closely with a real loss of 2.45%. Meanwhile, the Type D and E funds concluded the month with real declines of 2.07% and 0.86%, respectively.
«Based on the information collected, the poor performance of the five pension funds in March was primarily attributed to losses affecting investments in foreign instruments and local equities. This occurred despite positive returns from fixed-income investments (such as deposits and bonds), which benefited from a decline in local interest rates,» the report from the Superintendence added.
Regarding the behavior of the multi-fund system in the first quarter of 2026, it was noted that the data indicated a «rather neutral» closure.
«The Type A and B funds accumulated a real return of 0.07% and 0.00% during the period, while the Type D and E funds reported gains of 0.26% and 0.66%, respectively. Only the Type C fund recorded a real decline of 0.04% for the quarter,» the Superintendence of Pensions further stated.
As of March 31, 2026, Chilean pension funds totaled assets of 5.513.46 million UF, equivalent to US$ 235.801,57 million, using a dollar value of $ 931.57 at the close of that day.
Check the full report HERE
El Ciudadano
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