Last updated: 12:20 / Tuesday, 4 June 2013
Data From Superintendencia

Colombian Pension Funds See US Equity Indexes as a Higher-Risk Asset

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Colombian Pension Funds See US Equity Indexes as a Higher-Risk Asset

The positions in mutual funds, ETFs, private equity and international structured products for Conservative, Moderate and High Risk pension funds portfolios in Colombia begin to see the US equity indexes as a higher-risk asset, while continuing to favor emerging markets as a conservative strategy and reducing its exposure to commodities, as reported by the Financial Regulator of Colombia -Superintendencia Financiera- with data from March 31, 2013 published on June 1st.

The highest positions in each portfolio are:

In the Moderate Risk fund, which manages assets worth $59.5 billion of which 15.63% are foreign assets, the top ten positions in mutual funds, ETFs, private equity and international structured products, equivalent to 81% of all international investments are:

  1. iShares MSCI EM Index Fund has maintained its top position for the second consecutive month with $711 million.
  2. SPDR Trust series 1 gains 7.9% with $418.5 million.
  3. Vanguard Group Institutional Index Fund has gained 3% and moved up a position with $308.3 million.
  4. iShares SP500 loses 27.5% closing at $245 million.
  5. Fondo Bursátil iShares Colcap loses a 1.67% closing with $194.5 million.
  6. Vontobel Fund Emerging Markets Equity in dollars with $190.1 dollars and has maintained pretty stable.
  7. Goldman Sachs Co, raises to 1.65% and finishes March with $188.4 million.
  8. Goldman Sachs Group Inc goes up 0.4% with $163.3 million.
  9. Vanguard Emerging Markets comes back to the list with $145 million.
  10. JP Morgan Chase Co's structured product closes the top 10 with $142.4 million.

As for the Conservative Risk fund, which manages $4.2 billion, with 8.11% in international products, of which 79.5% is invested in funds, the favorite funds are:

  1. SPDR Trust series 1, gains 15.41% with $53.8 million.
  2. Fondo Bursátil iShares Colcap goes up 1.33% with $34.97 million.
  3. iShares MSCI Emerging Market goes up an outstanding 56.2% with $28.97 million.
  4. iShares SP500 loses 25% with $12.3 million.
  5. Money Market BBH Institutional goes up another spot growing 30.55% with $9.6 million.
  6. Vanguard Group Institutional Index Fund gains 3% and closes with $7.8 million.
  7. DFA US small Cap Value goes up 4.59% closing the month with $7.1 million.
  8. DFA Emerging Markets Val loses 1.34% with $6.8 million.
  9. Vanguard Emerging Markets ETF goes up one spot even though they lose 1.7% in March with $5.8 million under assets. 
  10. ProShares Ultra 500 closes the top 10 with $5.6 millon.

While in the High Risk portfolio 28.02% of the $644 million under management is invested in foreign issuers, of which 83.5% are in mutual funds and structured products. The leaders are:

  1. iShares SP500 gains 8.7% with $29.6 million.
  2. Templeton Asian Growth Fund, loses an 1.6% ending up with $13.79 million.
  3. iShares MSCI EM Index Fund gains a 1.58% with $9.96 million.
  4. SPDR Trust series 1, gains 80.65% with $9.6 million.
  5. iShares MSCI Asia ex Japan, goes down 20% ending up with $6.18 milion.
  6. DFA Emerging Market Small Cap Portfolio loses 1.17% with $5.3 million.
  7. DFA Emerging Markets Value Fund A loses an 1.84% with $4.3 million.
  8. FCP Morgan Stanley Infrastructure Partners gains 0.47% with $3.7 milion.
  9. Fondo de Capital Privado Vintage V returns on the list with $3.3 million.
  10. Investec GD Asian Equity Fund I closes with $3.1 million.
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