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Argie Pension Takeover Knocks Local Markets

Oct 22, 2008

Argentina’s government whacked confidence it its local markets by nationalizing the country’s 10 private pension funds, giving it control of about $29bn in retirement accounts and jeopardizing investor appetite for the country’s assets. According to local media and wire reports, president Cristina Fernandez late Tuesday signed a...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management