Pioneer Investments has snapped up a $400 million (€317.7 million) European equity mandate from Mexican pension fund manager Afore Banamex.
The pension fund manager of Grupo Financiero Banamex is seeking to diversify its investment strategy and has issued three such international mandates over the past year.
The European equity mandate, a segregated account close to $400 million, follows a concentrated, high conviction strategy.
Gustavo Lozano (pictured), country head of Pioneer Investments Mexico, says the team applies a fundamental, proprietary research-driven approach to investment in European equities.
Pioneer Investments’ European equity team currently manages about $15 billion.
Schroders was the first to receive such a mandate from Afore Banamex, a $200 million global segregated account, last year. It received another $500 million earlier this year.
Picture provided by Estratega BBVA Bancomer
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