Speaking to International Adviser today, Saluzzi said the regulator in Mexico will take this first step towards opening up the investment universe which in time could include active funds too.
“We hoped it would be in 2012, but a change in the government over the summer has led to four months of transition. We are hoping the expansion of the investment universe of eligible assets will happen in 2013.”
Currently, pension funds in Mexico can only invest in ETFs which have to be listed on the country’s stock market.
Another target market for ALFI is Brazil, where local people can only access Ucits through a Brazilian fund and the amount of exposure the investor can get depends on his or her wealth, restricted to between 5% and 10%.
ALFI is lobbying for a growing presence of Luxembourg funds in 70 countries spanning Europe, Asia and Latin America, where it has already notably registered funds in Chile, Peru, and Columbia.
