The Latin firm is deep into partnership negotiations with two more managers, one European and the other American, BTG's Caio Mantovani, head of third-party distribution in Brazil, told Fund Pro Latin America.

Reduction of deductibility from 100% to 53% as part of the 2014 Fiscal Reform paralyzed Mexico's private-pension fund industry, said Mercer Mexico's Ivette Maya.

Total allocations from Colombian AFPs to offshore funds and ETFs slipped to USD 16.4 billion in October; 97% of that exposure is to equity.

Invesco, iShares, Vontobel, Allianz, LarrainVial, Macquaire, Nomura, Acadian, Amundi, Blackstone, Fortress and Permira were the fund sponsors gaining approval for new products.

“The current weakness in the markets is not a reflection of poor fundamentals. Rather, it’s caused by a confluence of idiosyncratic shocks," said BofA Merrill's Candace Browning.