Colombian AFPs shun US, see better opportunities in Europe and Asia

AFP exposure to Europe, Asia and even emerging markets were at year-to-date highs, as the rise of the US stock market failed to excite Colombian portfolio managers.

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Emerging-markets products sit atop Colombian AFPs’ cross-border shopping list

AFP exposure to emerging markets rose in September to nearly 25%, compared with only 10% in December 2015. The largest allocation for the month was for USD 136 million into Vontobel Emerging Markets Equity–I, made by a single AFP.

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Colombian AFPs boosted their exposure to emerging markets in August

Colombian AFPs in August increased their exposure to emerging-markets equity by US 477 million, lifting their stake in the region to 24% just behind that of Europe. iShares reached USD 6.4 billion in AUMs, leading the field.

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Colombia’s AFP Protección names new CIO

Felipe Andrés Herrera Rojas has taken over the CIO role at Protección, Colombia's largest private pension manager, which is part of Sura Group.

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iShares big beneficiary of Colombian AFP focus on emerging markets

The iShares MSCI Emerging Markets ETF was by far the biggest gainer for the month, with allocations coming from AFP Proteccion, with a USD 218 million deposit, and smaller amounts coming from Colfondos, Porvenir and Old Mutual.

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Colombian AFPs made play for emerging markets in April

Exposure to emerging-markets climbed to 15%, up from just over 10% in December 2015, benefiting iShares and Fidelity. Henderson also scored a major allocation in the Euro segment.

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iShares bears the brunt of Colombian AFP portfolio reshuffling

The AFPs redeemed USD 522 million from iShares ETFs in February and USD 548 million in January, as allocations to the US and Europe were sharply reduced.

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Cross-border firms lost USD 1 billion in Colombian AFP assets in January

iShares, Vanguard and State Street, the biggest recipients of Colombian AFP allocations, all suffered AUM declines. AFPs Protección and Colfondos were behind some of the largest allocation shifts.

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Colombia’s AFP Porvenir opted for EAFE in November while slashing positions in US

AFP Porvenir made the biggest changes to its international portfolio vis-à-vis its pension-manager peers in November, shifting USD 400 million to a single iShares EAFE exchange-traded fund while redeeming passive positions in US equities.

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Colombian AFPs load up on Europe; make shy return into emerging markets

Colombian AFPs sharply increased their investment into Europe in October, while posting positive funds into emerging markets for the first time since May. These moves benefited managers like Vanguard, iShares and Deutsche but hurt others like State Street.

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