Assets under management in Chile's mutual fund industry are set to reach the US$16 billion-mark by year-end on the back of strong returns from international instruments, according to the mutual fund association AAFM, Business News Americas reports.

Assets managed by mutual funds grew 8.2% to US$15.7 billion at the end of July compared to the same time in 2005. International funds showed the best returns in the period at 11.2%. Chile's 19 mutual fund managers operate through 786 different funds. Additionally, the number of mutual fund clients rose 19.9% to 742,712 as of the end of July.

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