The last five years have been ones of intense transformation for the largest pension fund in Mexico. Establishing a sound and replicable investment process has been one of the main challenges for the team. Changing the team’s culture towards long-term investing, based on optimising diversification, has been the name of the game, and even though there are additional challenges in the future, positive results arise both from a quantitative and qualitative perspective.
As a fusion between Banorte Bank and the Mexican Social Security Institute (IMSS), Afore XXI-Banorte is Mexico’s largest pension provider and is rightly held to extremely high standards of responsible investing. This partnership resulted in strong governance that provides both robustness and business continuity.