Tracking the Activities of Global Asset Managers in Latin America
Excel workbook detailing, over various time periods, asset totals, inflows and affiliate trends among Mexican Afores. Data as of June 30, 2019.
Companies mentioned in this report: XX Banorte; Citibanamex; Sura; Profuturo GNP; Principal; Invercap; PensionISSSTE; Inbursa; Coppel; Metlife; Azteca; Afirme Bajío.
The ex-head of the Afore association and now installed in Mexico's Ministry of Finance and Public Credit, Carlos Noriega has helped keep important pension reform measures on track in the Legislature.
With Afores getting the OK to diversify out of ETFs, Vanguard's local office, under Juan Hernandez, is listing cross-border mutual funds for sale to the pension managers.
Excel workbook detailing, over various time periods, asset totals, inflows and affiliate trends among Mexican Afores. Data as of March 31, 2019.
Companies mentioned in this report: XX Banorte; Citibanamex; Sura; Profuturo GNP; Principal; Invercap; PensionISSSTE; Inbursa; Coppel; Metlife; Azteca; Afirme Bajío.
Long-awaited rules published by the Consar risk committee showed a bias to large managers (USD 50 billion minimum AUM) and stringent fee caps on active funds (65 bps maximum for equity funds).
Excel workbook detailing, over various time periods, asset totals, inflows and affiliate trends among Mexican Afores. Data as of December 31, 2018.
Companies mentioned in this report: XX Banorte; Citibanamex; Sura; Profuturo GNP; Principal; Invercap; PensionISSSTE; Inbursa; Coppel; Metlife; Azteca; Afirme Bajío.
President of pension regulator Consar, Abraham Vela Dib, told Fund Pro Latin America that its risk committee has approved rules for Afore investment in mutual funds, with publication in the government's Official Gazette imminent.
Bernardo González Rosas arrives at Amafore after being president of the National Banking and Securities Commission for most of 2018. He replaces Carlos Noriega Curtis.
While US-educated heads assumed their roles at the CNBV and Consar, Afore-friendly Carlos Noriega Curtis has joined the government in the finance ministry.
Cross-border firms lost nearly USD 500 million in allocations when BlackRock took over Banamex's fund unit. Meanwhile, a large Afore is close to unwinding two global mandates as regulators delay implementation of fund rules.
