Rodriguez, whose appointment is effective immediately, is based in Mexico City, reports to Alfonso Munk, managing director and head of Latin America.
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.
Mexican government proposal would tie part of management fee to performance
December 11, 2013 by
The proposal, which would reward higher-performing Afores with larger fees and punish those poorer performers, was immediately panned by the local pension industry association, the Amafore.
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.
Itau BBA hires Mexico CEO with plan to open broker-dealer
December 7, 2013 by
Banco Itau hired Alberto Mulas, Mexico’s first national housing commissioner, to lead the firm’s corporate and investment-banking expansion there.
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.
