GBM is link between six international managers and Mexican Afores

When Afore investment in mutual funds is finally permitted, "the dynamics of this market will increase significantly," Louis Viramontes, vice president of international sales at GBM, told Fund Pro Latin America.

This content is reserved for our licensees.

Log In Register

Three firms share USD 700 million US Equity mandate from XXI Banorte

Under the guidance of Sergio Mendez, Afore XXI Banorte funded US equity mandates with three managers, totaling USD 700 million, bringing its funded mandate total to USD 2.8 billion, spread across Europe, Asia and now the United States.

This content is reserved for our licensees.

Log In Register

Afore XXI Banorte makes it easy for Mexican expats to save for retirement

XXI Banorte's Juan Manuel Valle Pereña said the Afore's alliance with uLink gives US-based Mexican expats an easy-to-navigate and easy-to-access service to make voluntary retirement contributions from any device or computer.

This content is reserved for our licensees.

Log In Register

Afore XXI Banorte works to recapture lost market share

In just five months, under new CEO Juan Manuel Valle Pereña, Afore XXI Banorte has reversed its declining market share with the implementation of a new client-retention and recovery strategy.

This content is reserved for our licensees.

Log In Register

XXI Banorte quickly funds Pan-Asian mandate with USD 850 million in disbursements

The latest implementation of XXI Banorte's international diversification strategy, led by CIO Sergio Mendez, has been entrusted to JP Morgan, Investec, BlackRock and Pioneer Investments. The process took just four months.

This content is reserved for our licensees.

Log In Register

XXI Banorte plans early 2017 RFP

XXI is the most active Afore in terms of international mandates, having announced a USD 150 million mandate with Pioneer, new disbursements in its European mandate with BlackRock and Schroders, and, according to CIO Sergio Méndez, an upcoming RFP in early 2017.

This content is reserved for our licensees.

Log In Register

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.

This content is reserved for our licensees.

Log In Register

Afores scaled back their foreign exposure in the first quarter

Turbulence in the first quarter forced Afores to refocus their investment portfolios toward strategies that give them higher returns and minimize volatility, BlackRock's Juan Hernández told Fund Pro Latin America.

This content is reserved for our licensees.

Log In Register

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.

This content is reserved for our licensees.

Log In Register

Afore XXI Banorte lines up three more mandates, including Asian equities and commodities

With these three mandates, the country's largest Afore plans to increase its international investments up to 9% of its total assets under management - just over USD 3.2 billion out of a total of USD 36.4 billion managed, said Ignacio Saldaña, investment director.

This content is reserved for our licensees.

Log In Register