Fitch Ratings upgraded its fund management rating from Strong to Excellent.
World Finance, for the seventh consecutive year, awarded it the prize for the Best Pension Fund in Mexico. And it was the only Afore in the entire sector to have obtained first and two second places in responsible investment by the ALAS20 organization.
World Finance: The afore consolidated as the strongest in the entire industry
The General Director of Afore XXI Banorte, David Razú Aznar, presented before the Honorable Technical Council of the Mexican Social Security Institute (IMSS). Chaired by Master Zoé Robledo, General Director of the Institute, the annual report of the Administrator at the end of 2021.
As part of his report, Razú Aznar highlighted that XXI Banorte, the Afore product of the partnership between IMSS and Grupo Financiero Banorte. It was consolidated as the most solid in the entire industry, since it is the only one that manages more than one billion pesos. Which makes it number one in assets under management.
In addition, it has the first place in Voluntary Savings as it has the largest amount of resources and offers the best returns. And it is the only Afore that has the most efficient costs in the entire sector, which represent 39% of its income, below the industry average (58%).
The IMSS has the objectively best prepared Afore
Due to the above, the general director of the IMSS, Zoé Robledo, said that “the IMSS has the Afore that is objectively better prepared. More solid and with more tools to successfully adapt to the new conditions of the system and take advantage of all the opportunities that arise”.
For his part, David Razú Aznar pointed out that “Afore XXI Banorte consolidated itself in the market by improving the returns of its affiliates and affiliates. This, through the incorporation of a sophisticated, well-defined and disciplined investment process. As well as in accordance with the practices of the best pension funds in the world”.
In this regard, in fact, Fitch Ratings has upgraded its fund management rating from Strong to Excellent.
Recertification of the Retirement Savings System Commission (CONSAR)
Regarding achievements, Afore XXI Banorte highlighted its leadership in responsible investment (ESG). And have obtained the recertification of the Retirement Savings System Commission (CONSAR) for the operation of derivative products. This will allow XXI Banorte to continue to have the most diversified portfolio with the best risk-return ratio in the system.
In addition, it became the first Afore within the sector to implement the Institutional Program for Equity and Gender. Similarly, it obtained important international recognition, highlighting that, for the seventh consecutive year, World Finance awarded it the prize for the Best Pension Fund in Mexico, and it was the only Afore in the entire sector to have obtained first and two second places. in responsible investment by the organization ALAS20.
All of the above allows the Afore to position itself as the most prepared to face the challenges of the industry and remain a leader in its sector, always seeking to benefit its clients by increasing their retirement savings.
Related Notes: