The regulator is very active and is making an effort to get the system working correctly, said Ramón Pando, Afore Director in Principal Financial Group Mexico (photo). But that means taking the time to align its processes according to Consar dictates. Mandates will have to wait, he said.
Experts agree: Mexican pension system in need of urgent reform
February 18, 2015 by
Experts gathered at forum hosted by Principal Investments agreed that the first generations of Mexicans who retire with their Afore accounts will not receive a decent pension. The average OECD replacement rate is 54% (pension as a percent of salary) compared with just 28.5% in Mexico.
Iñaki Bernus is the new director of private banking at Credit Suisse
January 29, 2015 by
Bernus has over 24 years’ experience in private banking; prior to joining Credit Suisse Mexico in 2010, he was director of private banking at Invex Grupo Financiero and regional director of wealth management and specialized advisory services at Banorte.
Banamex announces winners of USD 600 million Asian mandate
January 14, 2015 by
The announcement was a coup for Compass Group Mexico, which represents two of the firms that will share in the USD 600 million mandate. Rodrigo Blancas (photo), head of mandates, also revealed that it will be disbursing assets to previous winners of already-existing mandates, after many months of regulatory wrangling.
Afore Banamex teases new international mandate
November 26, 2014 by
Fresh off the announcement of a commodity mandate with Deutsche Bank, Wellington and Schroders, Banamex said it is in the process of interviewing managers for what would be its third international equity mandate.
Amafore seeks more active role in processes and self-regulation
November 12, 2014 by
Carlos Noriega (photo) said the pension manager association is proposing, along with other missions, it be more involved in pre-approving ETFs for their eventual sale to Afores, a task currently in the wheelhouse of the pension regulator, the Consar.
Banamex awards new commodity mandate to three top global firms
October 30, 2014 by
The awarding of the mandate, as well as its size, is dependent upon the final design of the investment guidelines being drawn up by the Consar, Afore Banamex and the winners of the mandate.
The three active Mexican Afore mandates are all with Banamex
October 22, 2014 by
With the mandate of up to USD 360 million to Pioneer, the Mexican pension industry now has three active mandates, all with Afore Banamex, totaling USD 1.2 billion.
Consar discloses plans to speed up mandate process
September 30, 2014 by
Consar President Carlos Ramírez Fuentes (photo) is convinced that mandates are a tool the Afores should be using more. He told Fund Pro Latin America that the pension regulator is doing its best to speed up the mandate process.
Consar greenlights funding of USD 400 million Banamex mandate with Pioneer
September 23, 2014 by
The president of the Consar, Carlos Ramírez Fuentes (photo), told Fund Pro Latin America that the agency believes mandates are quite important vehicles at the disposal of Afores, but acknowledged that the approval processes need to be sped up.
