TannerInvestments Division
The Tanner Investments Division was created in 2009 under the name Gestora Tanner SpA, with the objective of making investments in Chilean businesses. In April 2017, the business changed its name to Tanner Investments and a new CEO was appointed in order to consolidate the administration of the following businesses under a single management team:
01. STOCK BROKERAGESince 1924, Tanner Corredores de Bolsa S.A. has been an active member of the local stock market by offering its customers a world-class team of investment advisors. This trajectory in the Chilean brokerage market was consolidated over time through the creation of new business units and acquisitions. In 2010, this led Factorline, now Tanner Servicios Financieros S.A., to acquire Tanner Corredores de Bolsa.
Since 2012, Tanner Corredores de Bolsa has been a member of the Electronic Stock Exchange of Chile, having been a member of the Santiago Stock Exchange since the Company’s creation in 1924. During 2017, we consolidated our position as an important player in the fixed-income and financial brokerage market:
Tanner Corredores de Bolsa has over 2,500 customers, with assets under management across local and international markets. Assets under management increased by 38% during 2017, which led to a proportional increase in Tanner Corredora de Bolsa’s brokerage revenue.
Our customers have benefited positively from our investment recommendations, realizing high returns in local and international markets. The positive investment results have benefitted both customers that have discretionary investment portfolios with Tanner and those who follow our investment recommendations, which has allowed us to broker sizable trades in products such as stocks, bonds and currencies.
The positive performance of this vehicle, combined with the responsible management of the executive team, was reflected in the US$ 5.5 million increase in the equity of this business during 2017.
We advise and support companies in their growth plans both through investments and financings. Our business model is supported by our analytical capabilities, market knowledge and wide customer network, which enables us to provide innovative and flexible solutions.
During 2017, we carried out major transactions in various economic sectors (Real Estate, Trade, Industrials), with the common denominator being speed of execution and value added for our customers.
a) PRIVATE FUND MANAGEMENT
Tanner Administradora de Fondos Privados S.A. aims to structure and market attractive investment vehicles for our customers, offering investors exposure to a variety of asset classes through portfolios with robust governance structures. Two private investment funds were liquidated during 2017 – Tanner Deuda Chilena I and Tanner Deuda Chilena II – which generated returns of 20.24% and 7.91% respectively, following their creation in 2013 and 2015.
b) GENERAL FUND MANAGEMENT
In mid-2016, Tanner Asset Management Administradora General de Fondos S.A. (TAM) began operations as an investment vehicle with the aim of providing institutional and other qualified investors with public and private investment fund alternatives that could help them meet their profitability and diversification requirements. TAM has been primarily focused on alternative assets.
The development of TAM has been supported by Tanner, which has contributed with its experience in managing financial assets and risks.
The project was consolidated during 2017, with the investment and operations areas being strengthened in order to improve our standards and fully comply with the applicable regulations. This year, we also launched the first fund TAM ACPI Private Debt Fondo de Inversión, which was listed on the Santiago Stock Exchange.
TAM has developed partnerships with alternative asset managers in local and international markets, with the objective of launching new funds over the course of 2018.
04. COMMODITIES EXCHANGE BROKERThe Chile Commodities Exchange was founded in 2005 as a marketplace that could bring together players in the agriculture and finance industries through commodities brokers. In this environment Tanner Corredores de Bolsa de Productos was founded, positioning itself as an important industry player. This market offers short-term, fixed-income investment alternatives aimed at providing good profitability with low risk for both individual and institutional investors.
The main focus of this business currently is investing in invoices issued by suppliers of payers that are registered in the Chile Commodities Exchange, which have a predetermined value and payment date.
In mid-2017, following a change in the investment policy and management, Tanner Corredores de Bolsa de Productos regained the market position it had held during its early days, having traded over US$ 32 million during the year.
Currently, Tanner Investments Division has 57 employees, whose focus is to enhance and strengthen the investment product offering across the division. Through the integration of the different investment alternatives within the division and providing additional credit and financing alternatives, our team aims to provide our customers with integrated solutions for the management both of their assets and liabilities.
Today our primary challenge is to fully exploit the synergies that could exist between our businesses via the transformation of Tanner Investments Division’s sales channels into distribution channels for a comprehensive portfolio of the best investment ideas available in the financial market.
The corporate governance of each of the companies that are regulated by entities such as the Securities and Insurance Superintendence – now known as the Financial Market Commission –, the Stock Exchanges and the Commodities Exchanges meets all the applicable standards and best practices, as set forth in the corporate guidelines of Tanner Servicios Financieros S.A.