Banorte-IXE is partnering with Blackrock, Franklin Templeton and BNP to further its goal of boosting the share of its international lineup to 5% of total AUM.
A MILA fund platform? Chilean execs don’t see it working
March 26, 2015 by
Initiative of the Mutual Fund Association seems like more of a political announcement than a project with a real future, sources told Fund Pro Latin America.
Investors plowed USD 500 million into Banamex’s line of international funds in 2014
March 19, 2015 by
Sergio Covarrubias, director of mutual funds at Grupo Financiero Banamex, spoke to Fund Pro about future plans for the international fund family, which already includes relationships with Franklin Templeton, BNP Paribas, BlackRock, and others.
Franklin: Change in Mexican investment culture must accompany open-architecture framework
March 19, 2015 by
Franklin's local director, Hugo Petricioli, said that while third-party fund platforms have existed for some years, the investment culture in Mexico has remained very narrowly focused on short-term fixed-income proprietary products sold by banks, and investors have not bothered to look around for alternatives.
Sura sees many pluses in open-architecture scheme in Mexico
March 11, 2015 by
If an open-architecture scheme is implemented industry-wide, the winners of this opening will be the end clients, intermediaries and the fund industry itself, Luis Ortiz, director of Investment Management at Sura Mexico, told Fund Pro Latin America.
Ramirez warns of dire consequences to pension system if reforms are delayed
March 11, 2015 by
"The more we delay the fundamental reforms required by this system, the possibility of accumulating sufficient resources for the new generation of Mexicans will be reduced," warned Carlos Ramírez, president of the Consar, at a recent gathering of industry professionals.
Principal Financial anxious to see Mexican market copy its open architecture model
March 3, 2015 by
Humberto Romero Lois, CEO of Principal Investment Funds in Mexico, told Fund Pro Latin America that the results of negotiations on an open-architecture framework between the regulator and the industry association will be made public in coming months.
Afore Sura makes play for voluntary savings
February 26, 2015 by
Encouraged by a 52% AUM increase in 2014, Afore Sura launched two new voluntary-investment vehicles with the aim of attracting MXP 1 billion in voluntary savings in 2015.
Afore Principal has global investment mandates on back burner
February 26, 2015 by
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.
