Afores to the fore
Mexican pension funds have doubled their use of structured products and derivatives this year. Jayne Jung looks at the changes in regulation and risk management techniques among the top funds that are driving this trend
There are signs that Mexican pension funds, or Afores, are journeying towards a new frontier. The funds, which controlled about 810 billion pesos ($75 billion) at of the end of September, have sharply increased their use of structured products and derivatives. Derivatives use leapt from 15.2 billion pesos in December 2006 to 28.2 billion pesos in September, an increase of 86%, according to the
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