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The creator of the company Happy and lined -which provides recommendations for changes of funds-, Gino Lorenzini, Figure as shareholder of four Pension Fund Administrators (AFP), despite the fact that he has indicated that he does not invest in assets in Chile.
According to the records of the Financial Market Commission as of the third quarter of this year, Lorenzini appears on the list of shareholders with less than 1 percent ownership of the AFPs Provided -the one with the largest number of affiliates-, Habitat, Capital and Cuprum.
In accordance with Financial Journal, although at the end of that period Lorenzini did not appear as a shareholder of the Life Plan AFP, he himself assures that he also invested in that, completing investments in the five Administrators open on the stock market.
“Attend shareholders’ meetings, only reason”
“I decided to invest 100,000 pesos, that is, a couple of shares, in each of the publicly open AFPs, which are five, to be able to attend the shareholders’ meetings and directly confront the owners and investors of the AFPs there. That is the only reason, “Lorenzini explained to the aforementioned media.
For this reason, he ensures that he will keep that money invested “forever.”
“Of my assets, that should be like 0.000001 percent, which is invested in AFPs,” he clarified, along with criticizing that “as an investment it has been terrible, the AFPs have lost a lot this year.”
“But losing investing 100,000 pesos does not matter to access the shareholders and power meetings make all reports accordingly“, said.
This appears as another controversy around Felices y Forrados, a company on which the National Consumer Service, which last week announced that it will investigate her for possible misleading advertising.
Lorenzini’s other fight: Against Piñera, Habitat and Moneda Asset
Through the social networks of Felices y Forrados, Lorenzini -who resides outside of Chile- fights another fight, pointing to President Sebastián Piñera, AFP Habitat and the Moneda Asset Management company, which controls various investment funds.
Following a 2019 press release, Lorenzini states that “Habitat ‘invests’ our savings (from Habitat pension funds) in Moneda funds, then Moneda invests in ILC (Inversiones La Construcción) and ILC owns Habitat , that is, WITH OUR OWN SAVINGS FROM HABITAT AFFILIATES, AFP Habitat is being purchased directly and indirectly, which is expressly prohibited by law, and thus control where 60,000 million dollars are invested“.
“As President Piñera has his investments managed in the ‘blind’ trust by MONEDA ASSET, If Superintendent Macías removes the ruling, he would probably lose the position of President“, added on Facebook by FyF.
In addition -adds Felices y Forrados- “Piñera elected the former president of Habitat as president of Codelco (Benavides). The former president of Provida (Joaquín Cortés) as president of the CMF, and the former director of AFP as minister of Finance (Briones ), and the former manager of Ciedess (related to Habitat) as Minister of Labor “.
“Therefore, to protect himself, Piñera had to ensure that Macías did not remove the fine for the triangulation, and also eliminate Felices and Forrados so that no one would uncover the truth,” he says.
From the Superintendency of Pensions they respond that “AFP Habitat’s investment audit in Moneda Asset showed that there was no regulatory infraction”.
“Without prejudice to the permanent inspection carried out by the superintendency, a special request for information was made to AFP Habitat within the framework of the information published by the electronic newspaper The counter, on July 19, 2019. Additionally, the SP received citizen inquiries on this matter, “the entity explained.
Between these “citizen consultations” are those made by Gino Lorenzini himself, and that they do not constitute complaintsSince the Superintendence of Pensions has another channel for this type of requirement.
“With the information that this body is in possession of, as a result of the supervision that it carries out continuously with respect to all the operations carried out by each of the Administrators of the Pension System of DL N ° 3,500, of 1980, It was determined that the investments of AFP Habitat SA through the investment manager Moneda Asset, comply with current regulations“, review an official statement.
