Pioneer Investments has been granted $400m European equity investment mandate by Mexican pension fund manager Afore Banamex.
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The mandate will be run by the specialist European Equities investment team at Pioneer Investments, which has around $247bn in assets under management (AUM).
The pension fund manager has selected Pioneer Investments to expand its investment strategy and offer its customers with investment opportunities across the global markets.
The European Equity mandate will adopt a concentrated, high conviction strategy.
"To date, Afore Banamex is the only pension fund in Mexico to have funded active international investment mandates, the Pioneer European equity mandate being the third of these," Pioneer said in a statement.
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By GlobalDataGustavo Lozano, country head of Pioneer Investments Mexico, said: "We believe that our fundamental, proprietary research-driven approach to investment in European Equities stood out through the selection process, and we look forward to building a rewarding relationship with the Afore going forward.”
