Banamex has many locally-domiciled mutual funds on the private-banking platform that utilize subadvisory agreeements with global managers. It has a US equity fund subadvised by Templeton, a European equity fund subadvised by BNP Paribas, and an Asian equity fund subadvised by BlackRock.
Exclusive: XXI Banorte selects managers for European mandate
January 27, 2014 by
In an interview with Fund Pro Latin America, the Afore, Mexico's largest with USD 42 billion in assets under management, shared the names of the two winning firms, and said it would allocate up to USD 250 million to each firm. Meanwhile, the pension manager also said selection of a custodian was not yet finalized and that another RFP was being readied. View article for full details.
Source: Performance-fee model for Afores will not stall mandate rollout
January 16, 2014 by
This measure is part of a larger reform package slated to be submitted to Congress for debate in late 2014. The same package is likely to contain an increase in the international-allocation limit, which has been stuck at the 20% level since 2003.
Fiscal reform takes bite out of tax benefit on pension-plan contributions
December 19, 2013 by
Up until 2013, contributions made by plan sponsors to private pension plans were 100% tax deductible. However, the new fiscal reform reduces the percentage to 53% and potentially just 47%, according to sources consulted by Latin Asset Management.
Compass Group Mexico wants a piece of the Afore market
December 11, 2013 by
In an interview with Latin Asset Management, José Ignacio Armedariz and Luis Palacio said they will be very active in the next two years offering Afores new alternatives to benefit the pension managers' international portfolios.
JP Morgan to sponsor two additional PIMCO ETFs
April 17, 2012 by
The new PIMCO ETFs, PIMCO 0-5 Year High Yield Corporate Bond Index Fund (HYS) and PIMCO 25+ Year Zero Coupon US Treasury Index Fund (ZROZ), are listed on the Bolsa Mexicana de Valores in pesos and trades can be initiated through a local broker.
Afore Banamex selects three managers specializing in international equity
February 21, 2012 by
JP Morgan, BlackRock and Schroder are chosen to manage part of the Afore’s portfolio in global equities.
Sura Group in Mexico moves toward open architecture
February 16, 2012 by
In a first step, an agreement was signed with Meridian Funds (MFS) to use them as underlying asset for investments by mutual funds in global equities in Mexico.
Still unclear how the Afores will invest in mutual funds
January 17, 2012 by
Despite the new memorandum issued by the Consar, Afores and fund managers are still not sure how mutual funds can be included in investment portfolios. Investments will not be allowed in local funds, only international.
This year could see a number of specialized mandates contracts in Mexico
January 5, 2012 by
Consar has defined the parameters and clarified the rules. Hugo Petricioli of Franklin Templeton and Sergio Mendez of Afore XXI believe the roles of valuers and custodians will be defined as the Afores start the mandates processes.
