Afore Banamex, Mexico City, hired BlackRock, Pioneer Investments, Nomura Asset Management and Wellington Management to manage between $500 million and $600 million combined in Asian equities following an extensive search process, said Rodrigo Blancas, head of international mandates.
Pioneer will actively manage about $200 million in the strategy
Currently, the $30 billion pension fund is not actively exposed to Asian equities. It has a small allocation to a Japanese exchange-traded fund, Mr. Blancas said.
No existing managers will be terminated as a result of the hires, Mr. Blancas said.