Principal broadens its lineup of life cycle funds in Mexico

The manager launched the conservative Lifestyle "Traditional" fund to cater to conservative investors who "still get a bit nervous with the mix of 80% debt and 20% equity" said the firm's Luis Lozano.

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Principal expands its onshore Mexican offering to capture repatriated assets

Principal Fondos de Inversion this spring launched two new global funds - one a feeder and the other subadvised - to meet the investment needs of capital repatriated in 2017, said the firm's Luis Lozano.

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Mandate news circulates during and after Afore convention in October

Pensionissste, Banamex, Profuturo and Principal were the subjects of mandate news in October and November, as were global managers BlackRock, Wellington, Franklin Templeton and a pair of others.

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Principal Chile strengthens wealth business and offshore fund lineup

With Andrés Silva’s appointment as head of Wealth Management and the incorporation of a dozen UCITS funds to its local platform, Principal now covers the HNW segment, i.e. clients with financial assets of over USD 1 million.

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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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Capital repatriation sparks growth in Mexican fund business

Repatriation of some MXP 100 billion, driven by the government decree that offers tax incentives on return of undeclared capital, has benefited mutual fund operators, says Principal's Luis Lozano.

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Principal Afore again delays rollout of first global mandate

Afore Principal CEO, Mariano Ugarte, said the manager would implement its first international mandate in 2018, once "the markets have calmed down," referring to the high level of volatility for the Mexican Peso since the election of Donald J. Trump.

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Principal Chile makes play for wealthy clients

The new wealth management office, headed by ex-Larrain executive Andrés Silva, will target clients with liquid net worth between USD 1 million and USD 50 million.

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Four Mexican Afores are preparing international mandates

XXI Banorte is one of four Mexican Afores actively soliciting RFPs from global managers or planning to do so in the short term. Sergio Méndez, CIO of XXI Banorte, said the Afore will analyze proposals for Asian and US mandates in October, and fund them by the end of 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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