Peru Pensions To Up Foreign Investments

A Peruvian congressional committee has approved a proposal to permit pension funds to invest more abroad.

A Peruvian congressional committee has approved a proposal to permit pension funds to invest more abroad, Bloomberg reports. The proposal will enable Peruvian retirement systems to increase the limit to 50% from 30%.

The proposal, which was approved by the legislature’s economy commission, aims to give the funds, more investment options and limit short-term speculation in local assets, adds Reuters. The Peruvian central bank raised the limit on pension investments abroad to 30% form 22% last year.

Click here for the story from Bloomberg.

Click here for additional coverage from Reuters.

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