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.
MetLife and Citi announce global distribution agreement in 15 markets through 2025
January 16, 2014 by
The agreement expands upon an existing distribution agreement between MetLife and Citi that will expire in 2015. The products will be available to Latin American clients in Argentina and Brazil.
Relaunch of Colombian fund industry set for 2014
January 16, 2014 by
The most important changes in the new rules include allowing specialization of the various activities required to operate mutual funds, fast-tracking the authorization and distribution process for funds investing in traditional assets, and a more prominent role for custodians. In addition, non-Colombian securities registered in MILA countries would now be considered "traditional" assets.
Larrain’s institutional distribution area unaffected by brokerage flap
January 13, 2014 by
Distribution of foreign managers’ mutual funds grew in September, October and November, while AUMs of local mutual funds and closed-end funds held steady.
Itaú-Corpbanca deal would raise Brazilian firm’s regional profile
January 13, 2014 by
Corp's positioning in Colombia is what adds a special interest for Itaú, given that opportunities for expansion in the region have been difficult to come by. Price tags for financial services assets in Mexico, for example, the second largest regional market after Brazil, are relatively high. In Chile, entities are smaller given the country's small size, but opportunities for deals are scarce.
Santander Brasil is latest to offer funds with international diversification
January 9, 2014 by
The asset manager hopes the two funds, which launched on Jan. 6, will raise a combined BRL 600 million in the first quarter of 2014.
Colombian pension managers added a USD 1 billion to their cross-border portfolios in October
January 6, 2014 by
Colombian AFP pension funds added USD 580 million to their positions in cross-border securities in October, of which 80% was applied to ETFs. Purchases were concentrated in equity-oriented products to the USA and Europe. Products of State Street and iShares benefitted the most for the new inflows.
Unified fund law in Chile: On the road to Luxembourg?
January 6, 2014 by
While an exemption for foreign investors from the 35% capital gains tax on remittances is what is what drove interest in the law, other modifications to closed-end fund regulations should widen their appeal among all types of investor groups, both domestically and regionally.
Nevasa HMC seeks additional partnerships with global private-equity managers
January 3, 2014 by
While its main clients are Chilean AFPs, the manager is becoming interested in capital from private and institutional banks in the region, particularly Peru and Colombia. Currently, the firm has raised USD330 million in committed capital for three different funds.
