Merged Principal-Metlife Afore names new CIO

Néstor Fernández, who has spent a great deal of his career with MetLife, was named head of investments of Principal Afore, following its acquisition of MetLife Afore.

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Principal to buy MetLife’s Mexican pension operation

Principal's Roberto Walker said the acquisition strengthens the firm's commitment to Mexico’s pension system. The merged Afore would have close to USD 13 billion in AUMs.

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Mexican Afores suffered a small drop in profits in 2015

Mexico's 11 Afore private-pension managers recorded net income of MXN 8.9 million (USD 516 million) in 2015, a 2% decline in local currency terms. Fee-based revenues of the managers were MXN 26.8 billion (USD 1.5 billion), an increase of roughly 5% for the year.

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Afores boosted their private-equity exposure to 6% in 2015

During 2015 about USD 1 billion - through 19 issues - went to market, almost double the issues logged in the previous year. A local consulting firm says that there is another USD 1.9 billion dollars in the pipeline for upcoming CKDs.

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BBVA sells peruvian pension unit

The bank is selling for USD516 million its pension unit in Peru to two separate pension firms, one controlled by Colombian financial conglomerate Grupo Sura and the other by Canada's Bank of Nova Scotia.

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