The product is for clients in private asset management, operated by BBVA Bancomer. Franklin Templeton will act as advisor on portfolio management. The target is to reach USD100 million in assets.
Merger of Afore XXI with Afore Banorte could lead to extension of limits for foreign investment
December 13, 2012 by
XXI-Banorte will be the largest Afore which could be too big for the Mexican market, and there is also an obvious need for the regulator to extend the foreign asset investment limit.
BBVA Sells Mexico Pension Fund to Banorte, IMSS for USD1.6 Billion
November 28, 2012 by
Grupo Financiero Banorte and Mexico’s Social Security Institute, known as IMSS, will each pay half of the price for the Afore Bancomer unit.
Sale of BBVA Bancomer pensions could bring new players into the sector
June 22, 2012 by
The Latin America region is perceived as strong and growing, and the sale of BBVA Bancomer could place a brand in four countries with one operation. For Luis Sayeg Seade of Banamex, it would be interesting to see a Mexican player come out to fight in the region.
