BBVA Bancomer Launches BRIC Investment Fund

BBVA Bancomer has launched what it says is the first investment fund in Mexico to focus on BRICs. The fund is available for Mexican private banking costumers of BBVA and has no minimum entry amount. It will purchase ETFs in BRICs at the international quote system (SIC) of the Mexican stock exchange, to tap their high yield potential. “We are recommending our clients to keep the investment in the fund for at least year in order to get the best returns,” says Jorge Perez Samano, director of asset management at the shop. The bank expects to raise MXP500m for the fund and collected more than MXP100m on its first day, according to Perez Samano.