Carlos Noriega (pictured) said the pension-manager association is pushing for greater tax incentives for those who save on a voluntary basis.
Pension regulator sees large opportunity in Afore market for global firms
May 9, 2014 by
The head of the pension fund regulator, the Consar, told Fund Pro Latin America that it is "inevitable and absolutely indispensable" that an increase in the 20% international-investment limit be discussed in Congress. Meanwhile, the CIO of Afore Banamex shares his bold plan to move the international portfolio to active managers.
DNA of Banorte and Ixe survives in merged wealth-management unit
April 21, 2014 by
The USD 1.3 billion merger of Grupo Financiero Banorte with Banco Ixe in 2011 fused together two complementary wealth management areas, according to Luis Pietrini, director of Wealth Management at Grupo Financiero Banorte-Ixe.
Six WisdomTree ETFs get CONSAR approval
April 14, 2014 by
According to Latin Asset Management estimates, Mexican Pension Managers (Afores) have around USD 12 billion invested in cross-border ETFs listed on the Mexican Stock Exchange (BMV).
Banamex funds European mandate to Schroders; Pioneer next in line
April 10, 2014 by
Banamex's second separate-account mandate was awarded to Schroders, BlackRock, BNP Paribas, Pioneer Investments and Franklin Templeton. The other firms have not received funding to date, but funding to Pioneer is said to be next and is pending regulatory approval. Schroder is now managing USD 900 million from Afore Banamex.
Actinver launches on BMV first fundamentals-based ETF
April 10, 2014 by
The new ETF, called SMARTRAC, will replicate the BURSAOPTIMO index and complements Actinver's Smartshares family composed by the AngelD and DIABLOI ETFs.
Compass Group tapped to manage Investec Mexico fund
April 10, 2014 by
The fund will be managed by the US-based Compass Group, which specializes in Latin America. Compass also runs Investec’s Latin American Corporate Debt, Latin American Equity, and Latin American Smaller Companies funds.
New York Life’s Mexican insurance unit mulls acquisition of local fund manager
March 5, 2014 by
New York Life is actually arriving a bit late to the mutual fund arena, since its rivals Allianz and Zurich have already launched third-party fund platforms that can be accessed by their respective producers and financial advisors. New York Life's interest in actually owning an asset manager would, however, elevate the firm beyond simple fund distribution.
BBVA Bancomer: Private banking of the future goes beyond the financial
February 25, 2014 by
BBVA Bancomer wants to "bring the world to Mexico” through products that offer geographical and sectoral diversification backed by expert advice. BBVA Bancomer offers funds advised by global firms such as BlackRock and Franklin Templeton.
Mark Mobius: Mexico is on the tip of everyone’s tongue
February 21, 2014 by
The outlook for Mexico is positive, said Mobius, and the Mexican government's announced agenda is generating enthusiasm. Just how quickly the government is able to implement new legislation and reforms in general will prove decisive to the realization of these ambitious goals.
