Peru AFPs Get Boost

Peru’s private pension fund administrators (AFPs) will be allowed to invest up to 13.5% of their assets abroad, according to a decision by the country’s Central Bank which sets their operating limit. The AFPs continue to benefit from the liberalization of the rules governing their investment universe which have seen their options increase. Last year, for the first time, the country’s four AFPs were allowed to invest in sub-investment grade securities (below BBB-).