annual report grupo security - Banco Security

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a d m i n i s t r a d o r a g e n e r a l d e f o n d o s s e c u r i t y s . a .t y p e o f c o m p a n yCorporation, subsidiary of Banco Security.i n s c r i p t i o n i n t h e s e c u r i t i e s r e g i s t e rAdministradora General de Fondos Security S.A. is inscribed in the Securities Register with the No.0112.o b j e c t sGeneral funds manager.g e n e r a l i n f o r m a t i o nThe company was constituted by public deed dated May 26, 1992 and was approved by the Superintendency of Securities and Insuranceon June 2, 1992 (Resolution No.0112). The company is subject to the regulatory authority of that Superintendency and the provisionsof Decree Law 1,328 and its regulations.By Resolution 288 of September 17, 2003, the Superintendency approved the reform of the bylaws of Sociedad Administradora deFondos Mutuos Security S.A. agreed at the extraordinary shareholders’ meeting of July 4, 2003, which changed the company’s name toSociedad Administradora General de Fondos, in accordance with Chapter XXVII of Law 18,045.The funds managed by the company are subject to the special regulations set out in Decree Law 1,328 and its respective regulations andare to the regulatory authority of the Superintendency of Securities and Insurance.p a i d c a p i t a l a n d e q u i t yAs of December 2007, the company’s capital and reserves were Ch$1,399 million and its equity Ch$6,982 million.i n v e s t m e n t a s p r o p o r t i o n o f t h e a s s e t s o f g r u p o s e c u r i t y s . a .Administradora General de Fondos Security S.A. represents 2.07% of the assets of Grupo Security.t r a d i n g r e l a t i o n s w i t h s u b s i d i a r y a n d a s s o c i a t e c o m p a n i e s a n d t h e p a r e n tAdministradora General de Fondos Security S.A. provides investment sales services for the purchase of mutual fund quotas to each of thesubsidiaries and associates of Grupo Security S.A., and to the parent company.In the future, there is the possibility of extending the offer of these services to customers of the parent’s subsidiaries and associatecompanies.b o a r d o f d i r e c t o r sCHAIRMAN · Francisco Silva S. TAX Nº: 4.103.061-5Directors · Carlos Budge C. TAX Nº: 7.011.490-9· Santiago Felipe Larraín M. TAX Nº: 5.196.190-0· Renato Peñafiel M. TAX Nº: 6.350.390-8· Gonzalo Ruiz U. TAX Nº: 5.321.309-KPRESIDENT · Alfredo Reyes V. TAX Nº: 9.035.635-6
annual report 2007grupo securitypage 149s u m m a r i z e d f i n a n c i a l s t a t e m e n t s · D e c e m b e r 3 1 , 2 0 0 7 a n d 2 0 0 6BALANCE SHEET2007Ch$ MILLIONS2006Ch$ MILLIONSASSETSCurrent 8,259.0 10,683.6Fixed assets 58.6 92.8Total ASSETS 8,317.6 10,776.5LIABILITIESCurrent 1,335.3 529.3Capital & reserves 4,912.1 8,700.3Net income for the year 2,070.2 1,546.8TOTAL LIABILITIES & SHAREHOLDERS’ EQUITY 8,317.6 10,776.5STATEMENT OF INCOME2007Ch$ MILLIONS2006Ch$ MILLIONSOperating income 2,551.8 1,504.9Non-operating loss (59.1) 350.3Income before taxes 2,492.7 1,855.2Income tax (422.4) (308.4)NET INCOME FOR THE YEAR 2,070.2 1,546.8CASH FLOW2007Ch$ MILLIONS2006Ch$ MILLIONSNet cash flow from operating activities 4,648.4 2,448.0Net cash flow from investment activities 2,651.2 (3,796.2)Net cash flow from financing activities (5,305.0)Net total cash flow the year 1,994.6 (1,348.2)Effect of inflation (259.6) (13.0)Net change in cash & cash equivalents 1,735.0 (1,361.3)
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Security produced a 148% real incre
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B O A R D O F D I R E C T O R SC H
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SUPERBRANDSSuperbrands placed Grupo
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FUNDACION CHILEUNIDO SEMINARFUNDACI
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1981Banco Urquijo de Chile is forme
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economic and financial environment
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A R E A S O F B U S I N E S SThe fo
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F I N A N C I N GGrupo Security par
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B A N C O S E C U R I T YThe missio
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• PRIVATE BANKINGThis is focused
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I N V E S T M E N T SGrupo Security
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MUTUAL FUNDS SECURITYSHORT-TERM FIX
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I N S U R A N C ET H E I N S U R A
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In terms of investment income, life
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2.45%54.9432.71%2.04%44.1901.63%1.5
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S E R V I C E SIn order to provide
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T R A V E L S E C U R I T Y S . A .
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investment and financing policies
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I n f o r m a t i o n o n t h e c o
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The human team making up Grupo Secu
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D I R E C T O R S ’ A L L O W A N
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D I V I D E N D S P A I DThe follow
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The following shows the volume of G
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M A T E R I A L I N F O R M A T I O
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financial statementsunconsolidatedc
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I N D E P E N D E N T A U D I T O R
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