Vanguard to support BIVA with a first ETF domiciled in Mexico

As soon as approval is received from regulators, Vanguard will launch its first ETF domiciled in Mexico, based on the FTSE BIVA index, the fledgling Institutional Securities Exchange that began operations in 2018.

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Julius Baer names UBS Mexico alum to coordinate Latam investment solutions

Polidura will operate from the Zurich offices of Julius Baer, which recently reinforced its activities in Mexico by increasing its global share in NSC Asesores to 70%.

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Finally! Mexican Afores can now invest in active mutual funds

Long-awaited rules published by the Consar risk committee showed a bias to large managers (USD 50 billion minimum AUM) and stringent fee caps on active funds (65 bps maximum for equity funds).

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Afores inch closer to investment in mutual funds

President of pension regulator Consar, Abraham Vela Dib, told Fund Pro Latin America that its risk committee has approved rules for Afore investment in mutual funds, with publication in the government's Official Gazette imminent.

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Afore association appoints ex-CNBV president as new head

Bernardo González Rosas arrives at Amafore after being president of the National Banking and Securities Commission for most of 2018. He replaces Carlos Noriega Curtis.

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Mexico names new heads of securities and pensions commissions

While US-educated heads assumed their roles at the CNBV and Consar, Afore-friendly Carlos Noriega Curtis has joined the government in the finance ministry.

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Mercer: Viability of corporate pensions requires reinstating 100% deductibility to plan sponsors

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.

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Banorte sees BlackRock as source for positive change

Banorte's Alejandro Aguilar Ceballos, considers BlackRock’s arrival to the Mexican retail market as an opportunity for the industry to maintain its growth rate: "It will make us all go into training to be able to compete."

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Global managers dealt series of body blows in Mexico

Cross-border firms lost nearly USD 500 million in allocations when BlackRock took over Banamex's fund unit. Meanwhile, a large Afore is close to unwinding two global mandates as regulators delay implementation of fund rules.

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GBM is link between six international managers and Mexican Afores

When Afore investment in mutual funds is finally permitted, "the dynamics of this market will increase significantly," Louis Viramontes, vice president of international sales at GBM, told Fund Pro Latin America.

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