Pension funds to sell Chile equities, Santander said

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CHILE - Chile's private pension funds, the country's biggest stock investors, probably will continue selling local equities after a region-beating rally took their holdings to maximum-allowed levels, Banco Santander SA wrote.

The funds, known as AFPs, divested US$40.7m in Chilean equities such as Enersis SA and its electricity generation unit Empresa Nacional de Electricidad SA in January after selling $821m last year, ...

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