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.
Afore CitiBanamex funds USD 550 million in Asia Pacific mandates with three global firms
Afore Banamex ready to fund Asian mandates
Rodrigo Blancas, Afore Banamex's international equity portfolio manager, told Fund Pro Latin America that the funding to four global managers will total USD 500 and USD 600 million for the Asian market and will take place in October.
Banamex announces winners of USD 600 million Asian mandate
The announcement was a coup for Compass Group Mexico, which represents two of the firms that will share in the USD 600 million mandate. Rodrigo Blancas (photo), head of mandates, also revealed that it will be disbursing assets to previous winners of already-existing mandates, after many months of regulatory wrangling.
Compass Group seals distribution agreements with Nomura and Fortress
Compass's mutual fund platform offered to Chilean institutional investors is now formed by PIMCO, UBS Global Asset Mgt., Vanguard, and five others, while their offering of alternative funds includes Bain Capital, Fortress and two others.