Pioneer Investments has announced the funding of a European Equity Mandate with Mexican pension fund manager, Afore Banamex. The mandate, totaling close to $400m, will be actively managed by the specialist European Equities investment team at Pioneer Investments.
Pioneer Investments, which currently has $247bn of AUM globally, has been managing European Equity assets for fifteen years based on a consistently applied philosophy and process. This approach has provided a strong track record over the medium to long term through all market cycles.
Afore Banamex, the pension fund manager of Grupo Financiero Banamex, awarded Pioneer Investments the mandate as it diversifies its investment strategy and seeks to provide its customers with access to investment opportunities across the international markets. To date, Afore Banamex is the only pension fund in Mexico to have funded active international investment mandates, the Pioneer European Equity mandate being the third of these.
The European Equity mandate, a segregated account close to $400m, follows a concentrated, high conviction strategy and is testament to the time-tested approach of Pioneer Investments’ European Equity investment team based in Dublin. Pioneer Investments’ European Equity team currently manages approx $15bn.
Gustavo Lozano, country head of Pioneer Investments Mexico, commented: ‘’We are thrilled to partner with Afore Banamex on this exciting initiative. We believe that our fundamental, proprietary research-driven approach to investment in European Equities stood out through the selection process, and we look forward to building a rewarding relationship with the Afore going forward.’’
Jose Castellano, head of Iberia, North America Offshore & Latin American Markets at Pioneer Investments, noted: ‘’ We have been working with Afores in Mexico since 2011 and since Pioneer Investments opened a Mexico Office in 2012, we have engaged pension funds, mutual funds and financial advisors offering funds, advisories, segregated accounts as well as providing technical expertise and facilitating knowledge transfer.
“We believe that key to developing long-term relationships is our best-in-class service proposition and our in depth local know-how, together with our investment expertise. We are honored to be awarded this mandate by Afore Banamex and we will continue to work closely with them to secure both a high quality of service and strong long-term performance.’’
Javier Orvañanos, CIO for Afore Banamex noted: “We selected Pioneer Investments for the strength of their process, their performance record and the stability of the investment team. We are excited to be moving forward with Pioneer Investments, giving the Mexican pension fund market access to international expertise. We look forward to what we hope will be a long and mutually beneficial relationship.’’