Afore Gets First Foreign Asset Manager Nod

Mexican pension fund regulator Consar has allowed Afore Banamex to have Mexico’s first international pension management mandate, it says. British multinational asset management firm Schroders will oversee $200m under the international investment mandate. Other funds may soon follow, the Mexican regulator says. Mexico, along with several other Latin American countries, is struggling to find the best way for pension funds to look after their rapidly expanding pools of assets – which have topped MXP2trn ($164bn). Currently, the limit of investments in foreign assets is restricted to 20%.