Administradora de Fondos de Pensiones-Provida S.A.

S.A. (corporation)

S.A. designates a particular type of corporation in various countries, mostly those employing the civil law. It originated in Spain during the 16th century. Depending on language, the abbreviation stands for various phrases meaning anonymous society, anonymous company, anonymous partnership, or...

 (AFP Provida) is a private pension fund

Pension fund

A pension fund is any plan, fund, or scheme which provides retirement income.Pension funds are important shareholders of listed and private companies. They are especially important to the stock market where large institutional investors dominate. The largest 300 pension funds collectively hold...

 administrator operating in Chile

Chile

Chile ,officially the Republic of Chile , is a country in South America occupying a long, narrow coastal strip between the Andes mountains to the east and the Pacific Ocean to the west. It borders Peru to the north, Bolivia to the northeast, Argentina to the east, and the Drake Passage in the far...

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Services

The Company provides services that include the collection of affiliate contributions, the management of individual capitalization

Capitalization

Capitalization is writing a word with its first letter as a majuscule and the remaining letters in minuscules . This of course only applies to those writing systems which have a case distinction...

 accounts, the investment

Investment

Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...

 of affiliate

Affiliate

An affiliate is a commercial entity with a relationship with a peer or a larger entity.- Corporate structure :A corporation may be referred to as an affiliate of another when it is related to it but not strictly controlled by it, as with a subsidiary relationship, or when it is desired to avoid...

 contributions into the Pension Funds managed by the Pension Fund Administrator (AFP), the allowance of life and disability benefits for affiliates, and the administration of specified defined pension and retirement benefits.

Company ownership

AFP Provida's controlling shareholder

Shareholder

A shareholder or stockholder is an individual or institution that legally owns one or more shares of stock in a public or private corporation. Shareholders own the stock, but not the corporation itself ....

 is BBVA Pensiones Chile S.A., which is controlled by the BBVA Group. AFP Provida's American Depositary Receipt

American Depositary Receipt

An American depositary receipt is a negotiable security that represents the underlying securities of a non-U.S. company that trades in the US financial markets...

s are traded on the New York Stock Exchange

New York Stock Exchange

The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...

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