Peru To Up Pensions Foreign Investment Cap

Peru has sent a bill to Congress to raise the legal limit on foreign investments made by the nation’s private pension funds or AFPs. The limit will be increased to 50 percent from the current 30 percent.

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Peru has sent a bill to Congress to raise the legal limit on foreign investments made by the nation’s private pension funds or AFPs, The Wall Street Journal reports. The limit will be increased to 50 percent from the current 30 percent.

The move will allow the funds to diversify their portfolios. AFPs that operate in Peru include AFP Horizonte, owned mainly by Holding Continental and Spain’s BBVA, as well as AFP Integra, mainly owned by the ING Group.

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