Insurance - Mexico - Mexico Afores' AUM up 15.1% year-on-year in November

By Business News Americas staff reporters

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Mexican private pension fund managers, known locally as Afores, saw AUM rise 15.1% year-on-year at end-November to 1.85tn pesos (US$143bn), local pension regulator Consar said in a report.

In the same report Consar said average returns on funds rose 11.6% over the last 44 months ending November.

Following pension rule changes in October, Afores operate four main pension vehicles, known as Siefores, assigned by age groups.

In the 44-month period Siefore 4 fund (ages 36 and below) led return growth at 13%, followed by Siefore 3 fund (ages 37-45) with 11.8%, Siefore 2 fund (ages 46-59) at 10.6% and Siefore 1 fund (ages 60+) with 9.18%, Consar said.

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