Schroders awarded Mexican pension fund mandate

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Schroders has won the $200m investment mandate from Mexican pension fund Afore Banamex.

Afor Banamex is a wholly owned subsidiary of Citigroup in Mexico, the firm says Schroders has been charged with diversifying their investment strategy.

The businesses say the deal is the first Mexican pension fund mandate to be handed to an international asset management company.

Schroders head of institutional business John Troiano says: “We are very excited to work with Afore Banamex on the development of this innovative strategy.”

Afore Banamex chief executive Luis Sayeg says: “The funding of this first mandate will help us to diversify our portfolios internationally, which will be for the long – term benefit of investors in our funds.”