December 5, 2011

The board of directors of Moneda Latin American Corporate Debt (the “Fund”) wishes to announce the following:

Change in Directors

Effective as of April 1, 2011, Alvaro Alliende has resigned as CEO of Moneda Asset Management S.A. ("Moneda"), the parent company of the Fund's investment manager, Moneda International Inc. Accordingly, Mr. Alliende was removed as a director of the Fund on 22 November 2011 and Antonio Gil Nievas was appointed as a director of the Fund with effect from 22 November 2011.  The biography of Antonio Gil Nievas is as follows:

Antonio Gil Nievas 


Mr. Gil Nievas is CEO Moneda since he joined the firm in April 2011.


Mr. Gil Nievas joined Moneda with over 15 years of experience in investment banking and strategy consulting. He worked for over a decade at JPMorgan in a variety of senior management positions in the Investment Bank. He was Managing Director and Global Chief Financial Officer (CFO) & Chief Operating Officer (COO) of a portfolio of businesses (including Global Emerging Markets among others), which represented approximately half of the Global Fixed Income business. Under his leadership, Mr. Gil Nievas contributed to creating and growing JPMorgan´s world-class Global Emerging Markets business and to the substantial improvement in strategic positioning and profitability of the other businesses he covered, which led the Global Fixed Income business to record revenues of US$ 18 billion in 2009 and US$ 15 billion in 2010.


Previously, Mr. Gil Nievas was the Head of Strategy and Business Development and responsible for strategic investments in EMEA (Europe, Middle East and Africa) and also co-led the creation of the EMEA Investor Client Management group. Mr. Gil Nievas started his career at JPMorgan as an investment banker, originating and executing mergers and acquisitions, leveraged transactions and equity and debt capital raising deals for clients in Europe and LatAm.


Before joining JPMorgan, Mr. Gil Nievas worked for three years as a strategy consultant at The Boston Consulting Group (BCG) advising senior management in financial services, utilities and telecommunications companies on corporate strategy, organizational effectiveness and operational efficiency. Prior to BCG, Mr. Gil Nievas was a Second Lieutenant in the Spanish Army and also worked in various technical institutions.


Mr. Gil Nievas holds an MBA from Harvard Business School and also a MSc. and a BSc. in Industrial Engineering, with a major in electronics, from ICAI (Universidad Pontificia Comillas, Madrid).

For further information in relation to the above announcement please contact Sarah Squire at the Fund’s registered office, Butterfield Fulcrum Group (Cayman) Limited (Tel: +1 (345) 745-7665 or