Tracking the Activities of Global Asset Managers in Latin America
“We are pleased to announce this relationship with AZ Quest, as we continue to expand our capabilities across the region, furthering our goal of supporting leading institutional clients throughout Latin America,” said Marcia Rothschild, State Street head of Latin America.
The executive will take over management of the State Street office in Chile. The US firm maintains its distribution agreement with Credicorp.
The acquisition will advance State Street’s strategy as an enterprise outsource solutions provider, strengthening competitive positioning, expanding geographic coverage and enhancing client experience.
State Street's John Lehner sees "an opportunity for asset managers to provide more strategic views and forecasts through technology, such as podcasts, webinars and video conference calls.”
The AFPs sold USD 456 million in North American equity funds and ETFs, reducing their AUM in that category to USD 4.1 billion.
The AFPs finished June with USD 17.2 billion invested in cross-border funds and ETFs, almost all of which was in equity-oriented products.
Colombian AFPs pulled away from cross-border funds and ETFs in May, yanking USD 1.2 billion mostly from equity funds as global markets reeled amid trade tensions.
The AFPs finished February with USD 16.6 billion invested in cross-border funds and ETFs, 95% of which was in equities. Many had adopted a wait-and-see posture, or were selling into rallies.
Eemerging-markets-equity funds and ETFs continued to attract assets. Category favorite iShares MSCI Emerging Markets led inflows with USD 178 million coming into the fund.
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.
