MEXICO - Mexican bank Grupo Financiero Banorte SAB has agreed to merge its pension fund with Afore XXI, the pension fund half owned by the Mexican Social Security Institute (IMSS) and Prudential.
Under the agreement, the IMSS will acquire half of Banorte's fund, which is 49% owned by the Italian Assicurazioni Generali, with the remaining 1% stake owned by the bank. Meanwhile, Banorte will buy...
MEXICO - The Principal Group will acquire HSBC's Mexican pension fund business for $198m.
MEXICO - Mexico will allow pension operators to hire third-party firms beginning in May to help manage their investments, the chief of the country's retirement-fund regulator said.
MEXICO - Mexican pension funds hit 1.4trn pesos ($118bn) at the end of March, figures from the Comisión Nacional del Sistema de Ahorro (Consar), the pensions regulator, show.
MEXICO - Government-regulated pension funds, the nation's biggest institutional investors, reported 1.38trn pesos($113bn) under management in December, figures show.
MEXICO - Mexico may allow pension funds, the nation's biggest institutional investors, to tap global commodities that are trading at near two-year highs.