Afore XXI Banorte is Mexico’s leader in pension fund administration, managing Ps 640 billion, making it one of the nation’s largest institutional investors.
Consistent with our fiduciary responsibility, i.e. with the trust of workers whose retirement savings we handle, we have strengthened our human and technological capitals.
With these tools we have successfully faced policy changes improving sales and service of the administrator, and ensuring highly competitive yields for the future.
We have hired talent with the best sector profiles to ensure that the 15 managed portfolios for individuals and institutions are duly safeguarded and strengthened. Changes were made in the Investment Plan with a reengineering of the portfolios, among other actions, and an association was established with two of the world’s largest portfolio managers, Black Rock and Schroders to make investments in Europe on behalf of Afore XXI Banorte.
Afore XXI Banorte continues to be an important investor in all of the Mexican public stock markets, such as government securities, credit companies, qualified credit, certificates of capital development (CKD), project investment certificates (CerPI) and real estate trusts (Fibras).
The necessary infrastructure has been implemented so that each of the accounts managed has an electronic file with biometric records and fingerprint and voice recognition, as well as a digital signature of our users; thus providing greater legal certainty to customers on all movements that occur in their account.
To get this up and running, we had to train more than 4,000 people in the operation of electronic records, which was performed remotely on digital devices such as tablets.
Afore XXI Banorte is Mexico’s leader in the administration of retirement funds, handling Ps 640 billion.
Increasing the amount of retirement funds in our country is a challenge; a person’s pension retirement fund depends on the amount of money that he has saved in his account up to the time of his retirement. Which is why it is so important to promote a financial culture that helps the population understand the importance of saving more on a voluntary basis. In this respect AFORE XXI Banorte has been a pioneer in creating an innovative product: the possibility for minors to have an AFORE account called “My First Afore XXI Banorte”.
With this strategy, we seek to combine concepts like saving money, family and retirement with the aim of promoting savings from an early age, recognizing the importance of family in the formation of financial habits. We know that financial education is received at home rather than at school, so the Afore for children will promote dialogue within families to learn how to better manage the money.