Pioneer Investments has won another equity investment mandate from a Mexican pension fund, making it one of the “most important” global asset managers in the region.
Afore Sura has awarded the manager with a $200 million (€184 million) global equity mandate in a move that further reflects the growing use of international managers and portfolios in the Mexican ‘afore’ pension administration system.
Asset managers BNP Paribas Investment Partners and Schroders are other firms that have won business from Mexican afores in recent years and Pioneer has also had previous success, most recently with Afore XXI Banorte.
Luis de la Cerda, chief investment officer for Afore Sura said: “By granting this mandate, we strengthen our investment strategy, reaping the benefits of the resources, skills and experience offered by external teams specialised in markets, strategies, styles and specific geographical regions.”
Gustavo Lozano, country head of Pioneer Investments Mexico, said Pioneer was now one of the most important global managers in Latin America
‘’Completing the funding of this project is once again the culmination of many efforts coming together. The relationship that Pioneer Investments has with Sura has allowed us to build a comprehensive partnership that ranks Pioneer Investments as one of the most important global managers in the Latin American region, regarding the active management of investments for the institutional clientele.’’
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