British asset management firm Schroders has secured Afore Banamex’s first international investment mandate in Mexico.
Schroders will oversee US$200 million under the mandate, which will enable Afore Banamex to take new approach for investing in global markets.
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The mandate secured approval from Mexican pension fund regulator, Consar.
The regulator said other pension funds, dubbed Afores, in Mexico are anticipated to select similar mandates as they plan to expand their holdings.
Afore Banamex CEO Luis Sayeg said that the funding of the mandate will help the company to expand its global portfolios, which will offer long-term benefits for investors in its funds.
"Our relationship with Schroders through this agreement gives us access to global experience and specialisation in a transparent format. The partnership adds to the talent and capabilities of our own investment and risk teams," Sayeg said.
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By GlobalDataSchroders global head of institutional business, John Troiano, said, "Afore Banamex’s vision and industry leadership combined with the strong investment and implementation capabilities of our firm offers investors the ability to access international markets so gaining diversification, and the return potential from a very broad set of investment opportunities."
