智利监管机构周二宣布对七家养老金基金展开调查，此举是针对系统中最保守型基金遭受重大损失的后续行动。
Chilean regulators opened an investigation into all seven of the country’s pension funds following heavy losses in the system’s most conservative funds.
监管机构表示，将调查养老金基金管理机构（AFPs）是否履行了忠实职责，未能保障退休储蓄的安全。此调查紧随对导致损失的投资决策的审查之后。
The pension regulator said Tuesday it will probe whether the AFPs, as the fund managers are known, failed in their fiduciary duty to safeguard retirement savings. The proceedings follow a review of the investment decisions behind the losses.
“管理人员必须采取所有必要措施，确保其管理的基金投资获得适当回报和安全性，”监管机构在声明中表示。
“Administrators must take all necessary steps to safeguard adequate returns and security in the investments of the funds they manage,” the regulator said in a statement.
此次调查标志着针对AFPs大规模押注美国利率下降的后果升级，而这些押注在美债收益率上涨后变得不利，导致今年E基金（主要面向保守型投资者和年长储蓄者）损失达10.4%。此前监管机构已因这些头寸实施了新的衍生品敞口限制。
The probe marks a new escalation in the fallout from the AFPs’ massive bets on declining US interest rates, which soured as Treasury yields surged. The positions have contributed to losses of 10.4% this year in the E fund — which is geared toward more conservative investments and older savers — and had already prompted the regulator to impose new limits on derivatives exposure.
财政部长何塞·昆内斯（Jorge Quiroz）支持监管机构的决定，称政府已对该问题进行了数日审查，但尚无法得出结论。“机构必须以最高度的严肃态度运作，如有必要，依法实施制裁，”昆内斯表示，并指出监管机构是开展调查的适当机构。
Finance Minister Jorge Quiroz backed the regulator’s decision, saying the government had been examining the issue for several days but that it was too early to draw conclusions. “Institutions must operate with the utmost seriousness and if warranted, impose the sanctions provided for by law,” Quiroz said, adding that the pension regulator was the appropriate authority to conduct the investigation.
与此同时，参议院劳工委员会将于11月4日听取养老金监管机构及AFP协会负责人关于E基金投资决策和损失的陈述。
Meanwhile, the Senate labor committee will hear from the pension regulator and the head of the AFP association on November 4 to discuss the investment decisions and losses affecting the E fund.
AFPs也面临来自会员的法律挑战。据当地媒体《Diario Financiero》报道，两名个人分别就AFP Capital和AFP UNO的养老金表现提交了保护申诉。
The AFPs are also facing legal challenges from members over the losses. Two people have filed separate protection appeals against AFP Capital and AFP UNO over their funds’ performance, local media outlet Diario Financiero reported.
监管机构指出，AFPs的职责包括“保障养老金基金资产安全、发现并规避利益冲突、以及在其活动中将勤勉标准纳入关键要素”。
The regulator said the AFPs’ responsibilities include “safeguarding pension fund assets, detecting and avoiding conflicts of interest, and incorporating standards of diligence as key elements of their activities.”