Global Beats Local for Project Bonds: Afore Manager

Global Beats Local for Project Bonds: Afore Manager

Mexico Funds

Global project bonds are more attractive investments than their local counterparts, Rodrigo Nunez, head of credit and alternative products at Mexican pension fund Afore XXI Banorte, tells LatinFinance. The preference for global deals has driven the investor to pick up more energy-related project bonds than infrastructure ones in the past year. The pension fund likes the standardized nature of global deals and their liquidity, over local deals which have greater variation in guarantees and covena

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