Unfortunately for AFPs and foreign managers receiving their allocations, the phase-in of these contributions and their partial diversion to social programs will equate to a negligible uptick in short-term flows.

The SBS said investments in dual-currency fixed-coupon financial instruments (exchange notes) and structured capital-protected securities were now eligible options for Peruvian insurers.

Chilean AFP pension managers injected USD 2 billion of assets into cross-border funds and ETFs in July, stepping up exposure to North American and Asian equity, as well as high-yield and emerging-markets bonds.

The executive signaled that a new project is in the offing, but it was unclear whether he will remain in the asset management industry.

A total of 21 products were added in the month from 12 different asset managers: Baillie Gifford, Fidelity, HSBC, Janus Henderson, John Hancock, Apollo, Audax, Cinven, EQT, Lone Star, NB and Platinum.