The asset and interest disclosure filed by Defense Minister Fernando Barros Tocornel with the Comptroller General's Office reveals a net worth exceeding $30 billion. The 48-page document outlines a complex structure of financial assets, primarily concentrated in debt instruments and investment funds.
The lawyer and former partner at the firm Barros & Errázuriz reported a portfolio management contract with the firm Picton valued at $10.445 billion. According to the records, this contract was notarized on April 10, 2026.
Asset Diversification and International Bonds
The Secretary of State's investment portfolio includes approximately $15 billion spread across 48 bond positions. These instruments range from debt issued by domestic companies such as CMPC, BCI, Agrosuper, and Falabella to global banking institutions.
On the international stage, Barros holds significant positions in banks such as HSBC, Citigroup, and Bank of America, with holdings exceeding $600 million in each. He also maintains stakes in top-tier investment firms including Goldman Sachs, JPMorgan, and Morgan Stanley.
The minister also reported approximately $5 billion in investment fund units. The most prominent asset in this category is the SPDR S&P 500 ETF, with a market value of $2.411 billion, alongside other funds focused on European and emerging markets.
Regarding deposits and accounts receivable, the official holds $2 billion in fixed-term deposits, primarily with Itaú and Banco Santander. Additionally, the disclosure details $8 billion in rights, notably a $6.935 billion receivable from Inversiones Familiares BV.
In terms of real estate and corporate holdings, the minister owns 20% of Inmobiliaria Macul, valued at $4.911 billion, and 98% of Agrícola Puerto Coihue. He also holds properties in Puerto Varas, Isla de Maipo, and Zapallar, as well as shares in La Hoyada Inversiones SpA, which is subject to a trust encumbrance.