Afores inch closer to investment in mutual funds

President of pension regulator Consar, Abraham Vela Dib, told Fund Pro Latin America that its risk committee has approved rules for Afore investment in mutual funds, with publication in the government's Official Gazette imminent.

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Afores’ reluctance to diversify confounds regulator

"There is underutilization of investment limits on nearly all fronts," said Carlos Ramírez, president of the Afore regulatory body. He cited underutilization of equity limits, as well as the minor positions of the Afores in foreign securities.

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Pension association suggests allowing smaller Afores to invest in cross-border funds

"This possibility would an interesting revolution for active managers, especially for smaller Afores, which find the cost of mandates beyond their means," said Carlos Noriega, president of Amafore.

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Amafore: Afores will be managing USD 300 billion in 2020

With projections based on current conditions of the Retirement Savings System - i.e. a 6.5% compulsory contribution and 49.6% investment placed in government debt - the Afores are expected to reach net assets of MXP 4.3 trillion (USD 295 billion) by the end of 2020.

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Amafore seeks more active role in processes and self-regulation

Carlos Noriega (photo) said the pension manager association is proposing, along with other missions, it be more involved in pre-approving ETFs for their eventual sale to Afores, a task currently in the wheelhouse of the pension regulator, the Consar.

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