Chilean pension funds experienced their strongest performance in six years in 2025, led by AFP Capital, according to recent reports. The positive results come as Chilean savers look to see how the gains will translate into their account balances.
AFP Capital reported leading the market in returns for its Funds A, B, and C throughout 2025, according to information published by the Superintendencia de Pensiones (SP). The firm achieved a 15.43% accumulated return in Fund A, 13.84% in Fund B, and 12.68% in Fund C between January and December of last year. Funds D and E saw returns of 10.74% and 8.27%, respectively, placing them third and second in their categories.
The strong performance marks the best results in a decade for Funds A, B, and C, reinforcing a long-term investment strategy, the company stated. “Managing pensions requires rigor, because we are talking about the savings of millions of people to finance their next 20 or 30 years of old age,” a company representative said.
Fund A, the most aggressive option, invests between 40% and 80% of savings in variable income assets. Fund B, considered a riskier option with potential for long-term gains, allocates between 25% and 60% of savings to variable income. In 2024, Fund B recorded a real accumulated return of 6.90%, increasing to 13.84% in 2025.
An intermediate fund, Fund D, invests between 15% and 40% of savings in variable income and is considered stable in the medium term.
Francisco Guzmán, VP of investments at AFP Capital, noted that the firm’s 2025 results reflect a consistent investment strategy adaptable to various market cycles. “Global diversification, discipline in decision-making, the use of first-rate technology and active risk management have been key to capturing opportunities and protecting pension savings in scenarios of greater volatility, always with a long-term focus,” Guzmán said.
The positive performance comes amid a generally favorable year for the Chilean pension system, with investors closely watching how these returns will impact their future retirement income.
