The AFPs finished April with USD 17.8 billion invested in cross-border funds and ETFs, almost all of which was in equities, after having yanked USD 597 million in the first quarter.
Tracking the Activities of Global Asset Managers in Latin America
The AFPs finished April with USD 17.8 billion invested in cross-border funds and ETFs, almost all of which was in equities, after having yanked USD 597 million in the first quarter.
The AFPs yanked USD 61 million from cross-border funds and ETFs in March 2019, but shoveled USD 447 million into a single Vanguard ETF, raising the firm’s total Colombian AUM to USD 2.5 billion.
Total allocations from Colombian AFPs to offshore funds and ETFs slipped to USD 16.4 billion in October; 97% of that exposure is to equity.
While the industry scaled back its cross-border allocation overall, Asia equity took in USD 673 million from Chilean AFPs during February. The sector now has USD 22.3 billion in AFP allocations.
The fund family was jointly designed by Finaccess and Credit Suisse, and offer access to a portfolio of strategies managed by Credit Suisse, Finaccess's Luis Cervantes told Fund Pro Latin America. Both firms distribute the products.
Credit Suisse Mexico's Nicolas Troillet says he finds the local-fund offering lacking in variety and said the private bank will offer clients both onshore and offshore solutions to meet their diversification needs.
Raul Gallegos, who came to Credit Suisse when GE Capital exited the Mexican market, told Fund Pro Latin America that the latest fund is shooting for institutional investment of USD 500 million by the end of 2016.
Fernando Brandão was with Credit Suisse from 2010 until early this year, primarily in the asset management division of the bank and then in CSHG, when Credit Suisse took control of asset manager Hedging-Griffo in 2013.
"Openfunds," developed jointly by UBS, Credit Suisse, Julius Baer, Fundinfo AG and others, provides a widely accepted standard for efficient fund data transmission, says Michael Partin, Openfunds committee member and CIO of Fundinfo.
The institutional-distribution division of BTG Pactual was recently taken over by Danny Aballay, who is tasked with rebuilding the unit after the flight of several of its cross-border clients. His promotion was one of several in the Chilean market.
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