Mexico's pension fund watchdog Consar will adjust regulations to allow local Afore pension fund managers to recompose their investment portfolios faster, Consar spokesperson Vanessa Rubio confirmed to BNamericas.
The measure aims at giving Afores more flexibility to adjust their portfolios in a highly volatile environment such as the current, she said, adding it will allow Afores to switch to longer-term securities in search for higher yields and safer investments.
Afores will have to present Consar with a plan to recompose their portfolios after the regulation is published in the country's official gazette, which Rubio believes could come as soon as this week.
The measure does not imply any change to the Afores' current investment regime, she added.
Afores held 868bn pesos (US$80.0bn) in assets under management at September 30, a 1.4% increase in real terms on the same time in 2007, according to Consar figures.
The same figures show 62% of total assets under management were invested in government bonds and 13.9% in variable income securities as of September 30.
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