The fund InverCap Fondos de Inversión has officially closed, and prior to this, it returned all of the managed resources to its clients. This is due to the funds manager now turning exclusively to focus on the Afore and pensions sectors, according to a statement made by the company.
The closing process began last March. Arturo Hanono, the Chief Financial Officer at InverCap, confirmed to El Economista newspaper that all resources had been returned to clients.
Afore Invercap, which has just celebrated its 8th anniversary in the market, manages more than a million clients’ funds. It offers the best yields in each of the SIEFOREs, according to data from the Consar, the commission that oversees Mexican retirement fund administrators.
April this year, Afore Invercap managed 116.4 billion pesos (about $9.4 billion), while according to data from AMIB, the Mexican Securities Industry Association, the investment fund operator Invercap administered only 546.9 million pesos (about $44 million) at the close of March.