Last updated: 16:23 / Monday, 21 October 2019
They now have 47 funds

Amafore Suggests Other Five International Mutual Funds for Afores to Invest In

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  • The new list includes, via two Franklin Templeton strategies, funds with exposure to China and India
  • The list now includes 47 international mutual funds from which Afores can choose
  • It will have monthly revisions

More investing options for the Mexican Pension funds translates to more opportunities for workers. With this in mind, Amafore continues to evaluate funds to, in a monthly basis, include in the list of international mutual the afores an choose from for diversification purposes.

This month, five new funds were added to the list, which was created last month and now includes 47 international mutual funds from which Afores can choose.

The new list includes, via two Franklin Templeton strategies, funds with exposure to China and India, "two regions where, despite the global economic slowdown, one can still find stories of structural growth that make a case for equity investments in the region."

Hugo Petricioli, Country Head for Mexico and Central America told Funds Society: "In Franklin Templeton we are very optimistic about the evolution of the Afores, since 1997 the system has experienced a continuous improvement, charging less and less to its customers, modernizing constantly and giving workers better and more options to be able to achieve a decent retirement, it is really a great system. I would very much like to see more workers get interested and involved with this part of their heritage as well as looking for options to increase their complementary savings. We have been investing in Mexico since the 80's. We believe in Mexico, we believe in bringing quality products and giving more investment options to all Mexicans."

The list of authorized managers consists of:

  • AllianceBernstein
  • Amundi
  • AXA
  • BlackRock
  • Franklin Templeton
  • Investec
  • Janus Henderson
  • Morgan Stanley
  • Natixis
  • Schroders
  • Vanguard

Gio Onate, Head of Mexico Institutional Business at BlackRock, told Funds Society: “At BlackRock, we value the long-term relationship we have built with Mexican Afores since 2005, starting with ETFs and evolving into active mandates, our technology and risk platform Aladdin and now, international mutual funds. We look forward to continuing our work as the Mexican pension fund industry evolves, always keeping in mind our purpose of helping more and more people experience financial well-being.”

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