The Jesuits entrusted $53 billion of their financial assets to Moneda Asset Management, Piñera’s favorite fund
An unpublished document from the Order’s treasurer shows that, at least between 2010 and 2015, the Jesuits entrusted the majority of their capital to the “Campion” fund of the same fund manager that managed Sebastián Piñera’s blind trusts. Furthermore, the Society of Jesus had investments in LarraínVial equivalent to $13 billion.
The financial relationship between the Society of Jesus and Moneda Asset Management was a relatively well-known fact. This has been the case since 2014—in the context of the legal dispute over the Cascadas case that pitted Julio Ponce Lerou against the fund manager—when the connection was revealed.
According to El Mercurio in June of that year, José Cox—a close associate of Sebastián Piñera, a former student at the order’s Colegio San Ignacio, who had helped manage the Jesuits’ assets since 2004—was the one who convinced the Order to join Moneda Asset Management, where Cox also had personal investments.
It should be noted that Cox has been close to Piñera since 1978, when he joined Citicorp. They both left the company in 1986 to form CMB. In the 1990s, Cox was close to the Concertación and collaborated in economic portfolios such as Finance and Public Works. He also held positions at Corfo and the Central Bank. In 1994, he served on the LAN Board of Directors, representing Piñera, and was part of his negotiating team for the Chispas Case. He later served as chairman of the Board of Directors of the Bolsa Electrónica (Electronic Stock Exchange) and as part of the leadership of Piñera’s presidential campaigns in 2006 and 2010, the latter of which was successful.
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