Mexican Pensions the stars of Top 100 Pension Funds
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23rd October 2013

Growth in Mexican pension funds outpaced those of other countries and has driven gains in the country’s stock market.

Mexican pension funds are the stars of the latest ranking of Latin America’s Top Pension Funds by Latin Business Chronicle. Three of the five largest increases in assets were seen by Mexican firms, and Mexican firms were the best performers in the largest 15 pension funds which hold the bulk of the region’s pension savings. Mexican pension funds have seen their asset base grow 120 percent according to data from Reuters, and their demand are currently driving growth in Mexican IPOs and private equity; in 2012, Mexican companies raised $9.8 billion – as much as the previous four years combined.
Mexico’s XXI Banorte was the pension fund that saw the largest growth among the region’s top 15 pension funds, seeing its assets grow 144.6 percent over 2011 to $19 billion. However, that growth owes more to the fact that the firm is a merger between two pension funds – XXI and Banorte-Generali – in January 2012 than to a significant increase. The second largest increase in the top 15 came from Mexico’s Profuturo GNP, which saw assets up 41.2 percent to $17.1 billion. Mexico’s three largest pension funds by assets – Banamex, Bancomer, and Sura – also all saw their assets grow by about one-third each: Banamex’s to $25.3 billion, Bancomer’s to $22 billion, and Sura’s to $20 billion.
Outside the top 15, Mexican pensions also performed well. In addition to XXI Banorte’s …

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