Principal to buy MetLife’s Mexican pension operation

Principal's Roberto Walker said the acquisition strengthens the firm's commitment to Mexico’s pension system. The merged Afore would have close to USD 13 billion in AUMs.

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Pioneer snatches USD 150 million Asian mandate from XXI Banorte

The efforts of Pioneer's Gustavo Lozano in Mexico have helped land Pioneer two mandates (already funded) with Afore Banamex (European and Asian equity) and a third (not yet funded) with Afore Sura (global equity).

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Four Mexican Afores are preparing international mandates

XXI Banorte is one of four Mexican Afores actively soliciting RFPs from global managers or planning to do so in the short term. Sergio Méndez, CIO of XXI Banorte, said the Afore will analyze proposals for Asian and US mandates in October, and fund them by the end of the year.

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Afore XXI Banorte lines up three more mandates, including Asian equities and commodities

With these three mandates, the country's largest Afore plans to increase its international investments up to 9% of its total assets under management - just over USD 3.2 billion out of a total of USD 36.4 billion managed, said Ignacio Saldaña, investment director.

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Trends in the Latin American Institutional Marketplace: Cross-Border Distribution Strategies

Latin Asset Management has teamed up with Cerulli Associates to publish its second report of the year, this time a 170-page effort that focuses exclusively on current trends that are driving institutional investor demand for cross-border products in Brazil, Mexico, Chile, Colombia, and Peru. The report, which includes 97 exhibits, was written entirely by Latin Asset Management’s team of regional analysts and is based on field research conducted in the third quarter of 2014. This report is available for purchase by contacting Cerulli Associates directly.

Amafore: Pension-fund investment regime not a legislative matter

Carlos Noriega Curtis, president of the Mexican pension fund association, the Amafore, is proposing that the Retirement System Law (SAR) be amended to delegate to the Consar all decisions regarding the Afores' investment regime.

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Exclusive: XXI Banorte selects managers for European mandate

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.

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Compass Group Mexico wants a piece of the Afore market

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.

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Afore Banamex selects three managers specializing in international equity

JP Morgan, BlackRock and Schroder are chosen to manage part of the Afore’s portfolio in global equities.

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Sura Group in Mexico moves toward open architecture

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.

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