PERU Ministry of Economy and Finance
SMV
Superintendency of the Market in Securities

"Decade of Equal Opportunities for Women and Men" "Year of the Bicentennial, of the consolidation of our Independence, and of the commemoration of the heroic battles of Junín and Ayacucho"

Resolution of the General Intendancy of Supervision of Entities

No. 128-2024-SMV/10.2

Lima, 26 September 2024

The General Intendant of Supervision of Entities

WHEREAS:

File No. 2024029748 initiated by Autoplan Empresa Administradora de Fondos Colectivos S.A., as well as Report No. 1248-2024-SMV/10.2 of 25 September 2024;

CONSIDERING:

That, by means of writings submitted up to 20 September 2024, Autoplan Empresa Administradora de Fondos Colectivos S.A., requested from the Superintendency of the Market in Securities the authorization of the program to be called "Kiwi Estética" and of its respective contract model;

That, the administration fee of the referred program amounts to seventy percent (70%) of the value of the capital quota plus VAT, which is not usual. In this regard, it is necessary to point out that the SMV is not empowered to regulate or establish a limit to the commissions that may be charged by the companies administering collective funds;

That, in this regard, Autoplan Empresa Administradora de Fondos Colectivos S.A. has indicated that this percentage has been determined after an extensive financial and operational analysis, in which various alternatives were evaluated to guarantee the viability of the "Kiwi Estética" program, adding that said percentage represents the only amount that allows adequately covering the administration cost without compromising the financial sustainability of the fund or negatively affecting the associates;

That, in the present administrative procedure, the presentation of said financial and operational analysis is not a requirement, nor does its evaluation correspond;

That, Autoplan Empresa Administradora de Fondos Colectivos S.A. has indicated that it will implement the necessary measures to convey to the associates in a clear, timely and truthful manner the information regarding the amount and percentage of the administration fee;

That, from the evaluation of the documentation presented it has been determined that Autoplan Empresa Administradora de Fondos Colectivos S.A. has complied with the provisions of: (i) articles 19, 20 and 95 of the Regulation of the System of Collective Funds and of their Administering Companies; and, (ii) the Single Text of Administrative Procedures of the Superintendency of the Market in Securities, approved by Superintendent Resolution No. 023-2015-SMV/02. This, for the authorization of the program to be called "Kiwi Estética" and its respective contract model, as well as for its registration in the Special Registry of Other Entities under the competence of the SMV; as developed in Report No. 1248-2024-SMV/10.2; and,

In accordance with the provisions of article 38, numeral 5, subparagraphs ix and x, of the Regulation of Organization and Functions of the Superintendency of the Market in Securities.

RESOLVES:

Article 1.- Authorize the program called "Kiwi Estética", as well as its respective contract model and order its registration in the Special Registry of Other Entities under the competence of the SMV.

Article 2.- The authorization referred to in article 1 of this resolution does not imply that the Superintendency of the Market in Securities recommends the entering into of contracts within the framework of the aforementioned program or expresses a favorable opinion on its quality.

Article 3.- Order the dissemination of this resolution on the Market in Securities Portal of the Superintendency of the Market in Securities (www.gob.pe/smv).

Article 4.- Transcribe this resolution to Autoplan Empresa Administradora de Fondos Colectivos S.A.

Register, communicate and publish.

Armando Manco Manco
General Intendant
General Intendancy of Supervision of Entities