Mexico Afores See Drop in Assets

Mexico Afores See Drop in Assets

Funds

The assets under management (AUM) of Mexico’s 18 Afores, or private pension funds, reached MXP838bn at the end of October, down 3.4% from the end of September, according to Credit Suisse which cites Consar figures. The value of AUM excluding the MXP72bn in inflows has fallen 7.8% in nominal MXP terms this year through October. Losses have been somewhat mitigated by the Mexican government’s plan to buy back MXP40bn of its long-dated securities beginning in December, says the shop. That announceme

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