MEXICO - Total assets managed by Mexican pension funds increased by 10.7% year-on-year, reaching MXN970.11bn (US$74.6bn) at the end of the first quarter of 2009, data by CONSAR show.
The average return of the schemes belonging to the national pension system increased to 4.42% for the rolling three-year period ending 31 March 2009, from 2.53% reported at the end of February of this year.
The largest share of the aggregate portfolio (70.07%) is invested in national government bonds, 15.81% in national fixed income, 5.14% in national equity and the rest in international equities and fixed income.
Last month, Mexican pension funds have agreed to invest only in local securities for the rest of the year in a bid to support the country's efforts to reactivate the national economy (www.globalpensions.com: 19/03/09).
At the time, the Asociación Mexicana de Administradoras de Fondos para el Retiro (Afore) - which represents all funds operating in the country - said the schemes would invest all new contributions, revenues and capital gains in Mexican securities.
It also said the fund's investment committees would consider investing in infrastructure projects, particularly in strategic sectors impacting job creation, when such actions were possible.
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