Afore demand that agreements on long-term investments be respected

The retirement fund administrators (Afore), which manage workers’ pensions, plan to invest in infrastructure in the Development Poles for Wellbeing in the current administration; They only demand certainty so that the conditions agreed upon before and during the life of the project are met, in order not to put the savings of Mexicans at risk.

“Worker savings have a long-term horizon, so there are investments that are consistent, such as infrastructure projects, which are a good asset class, with an appropriate combination of risk and return.

Thus, there is coincidence between what the sector is looking for to invest and what the government is looking for in the coming years. The essential issue, as investors, is certainty about the agreed conditions, that they are respectedotherwise this implies lower payment to workers, a handicapstated Guillermo Zamarripa, president of the Mexican Association of Retirement Fund Administrators (Amafore).

Zamarripa recalled the cancellation of the New Mexico City International Airport. Although a good part of the initial investment that the Afore made in the project could be recovered, the measure ordered by former president Andrés Manuel López Obrador had a negative impact on investors, what are the workers.

Capital gains and investment

Amafore predicted that 2024 will be a good year for workers, since their savings will generate capital gains, although the final stretch is still missing.

Between January and September, the Afore accumulated capital gains of 630 thousand 655 million pesos, a figure that exceeds those of all of 2023, which were 464 thousand 68 million, according to data from the National Commission of the Retirement Savings System.

In a press conference, in order to announce the Amafore Meeting on November 13 and 14, Jorge Sánchez, financial vice president of Amafore, considered that between the infrastructure projects and simplified emissions, which were born from the Law of the Market of Securities, there will be competition, but the Afore investment teams will choose those alternatives with the highest profitability and that offer the best conditions. They will have more tools to diversify workers’ savingssaid .