PERU - Peru's central bank has increased the amount pension funds can invest in international assets by two percentage points to 30% of their overall portfolios.
In a notice released on its website, the Banco Central de Reserva del Perú said the increase was done to allow pension funds, known as AFPs, to continue to diversify their portfolios. AFPs invest about 26.1% of their $26bn in assets outside their home country, the bank said.
The increase will amount to about $500m flowing to international assets.
The Central Bank has slowly been lifting investment restrictions for the country's pension funds. In July, the bank increased the limit form 26% to 28%. The current limit is nearly three times the ceiling allowed in 2006.
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