Pension association OKs 42 cross-border funds for purchase by Afores

The option offers an attractive alternative to mandates, allowing smaller Afores to participate in active management.

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Siefore shift to life-cycle funds on track for passage in late 2019

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.

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Afore association appoints ex-CNBV president as new head

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.

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Global managers dealt series of body blows in Mexico

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.

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Fee concerns threaten to derail Afores’ chance to invest in mutual funds

Despite delays things are moving ahead at a steady pace and both the Amafore and the Consar have been working nonstop to achieve clear rules that allow Afores to invest in mutual funds, says Amundi Pioneer's Gustavo Lozano. A consequential meeting this week should provide additional clues.

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Consar anxious to establish rules for cross-border-fund investing

Carlos Ramírez, president of the Consar, provided Fund Pro Latin America with a time estimate on when Afore pension managers will finally be able to invest in cross-border mutual funds.

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New Afore investment regime opens door to cross-border funds

A full rewrite of the investment regime pushed along by Consar president Carlos Ramirez was published on Friday, Jan. 5 in the Official Bulletin. We provide initial details and a first read on the potential impact for cross-border firms.

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WisdomTree cross-lists seven UCITS ETFs in Mexico

Jonathan Steinberg, WisdomTree CEO and president, said, the listing allows "Mexican investors the option to access and invest in WisdomTree’s existing strategies in a different structure.”

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Afores’ reluctance to diversify confounds regulator

"There is underutilization of investment limits on nearly all fronts," said Carlos Ramírez, president of the Afore regulatory body. He cited underutilization of equity limits, as well as the minor positions of the Afores in foreign securities.

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Afores: Cross-border funds are the logical alternative to cumbersome mandate process

"We have emphasized repeatedly their advantages and [cross-border funds] are a proven option; Peru, Chile and Colombia use them and capitalize on them," said Carlos Noriega, president of the local Afore trade group (Amafore).

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