In a discussion covering Afores’ international investments, Ivan Pliego revealed AUMs captured by active cross-border funds vs. global ETFs.
Tracking the Activities of Global Asset Managers in Latin America
In a discussion covering Afores’ international investments, Ivan Pliego revealed AUMs captured by active cross-border funds vs. global ETFs.
The hiring of Juan Carlos Martin is expected to revitalize investments in alternative assets at Afore Citibanamex, which was recently put up for sale.
The former Afore Sura CEO’s new job is to work out how this retirement fund manager will take “the portfolios towards a better experience in which the client becomes the core of the investment process," Citi said in a statement.
Armando Senra, head of the Latin America & Iberia region for BlackRock, termed the transaction "transformative for BlackRock and the asset management industry in Mexico and the region."
“BlackRock’s ambition is to become a full solutions provider in key markets around the world," BlackRock's Armando Senra said. "This transaction is a big step forward in that direction in Mexico."
Many investors considered the amnesty that ended on October 19th as a “last call” to bring money back to Mexico at a reduced tax rate, Citibanamex's Alejandro Martínez Féres said.
The successful implementation makes the mandates the first-ever targeting the Asian continent, which CitiBanamex said underscores its leadership in the implementation of innovative strategies within the retirement savings system in Mexico.
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