Afore Banamex, Mexico City, hired Schroder Investment Management to run $200 million in active international equity, confirmed Javier Orvananos, chief investment officer.
It is the $28 billion pension fund’s first allocation to active non-domestic equity. The strategy will use the MSCI World benchmark with an emerging markets tilt, focused on developed markets companies with high exposure to emerging markets, Mr. Orvananos said in an e-mail. Funding comes from selling stocks and ETFs, he added.
In 2011, the National Commission for the Pension System, or CONSAR, authorized investments in international markets, allowing pension plans to allocate up to 20% of assets in eligible international countries. CONSAR authorized the international investment after a two-year approval period, according to a news release from the pension regulator.