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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Banco Bilbao Vizcaya Argentaria | BIT:BBVA | Italy | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
By Robert Kozak
LIMA--The Central Reserve Bank of Peru on Sunday increased the limit on foreign investments made by Peru's private pension funds, or AFPs, to 36% from 34%.
The central bank said that the measure was aimed at increasing the diversification in investments made by the AFPs in a context of important inflows of capital into Peru.
It was the third increase so far this year in the limit. At the end of March, the AFPs had 31.6% of their portfolios abroad.
The central bank said the increase made Sunday will allow the AFPs to invest additional amounts of around $775 million outside of Peru.
The central bank has been working to stem the effects of inflows of capital on the appreciation of the local currency, the sol.
A strengthening sol has led to protests by exporters who have said the stronger currency hurts their exports.
The nation's Superintendent of Banking, Insurance and AFPs, or SBS, recently gave the green light to allow foreign investments of up to 40% by the country's private pension funds.
Of the currently operating funds, Prima AFP is controlled by Credicorp Ltd. (BAP, BAP.VL), AFP Horizonte SA (HORIZC1.VL) is owned mainly by Holding Continental and Spain's Banco Bilbao Vizcaya Argentaria SA (BBVA, BBVA.MC), AFP Integra SA (INTEGRC1.VL) is owned by Colombia's Grupo de Inversiones Suramericana SA (GIVSY, GRUPOSURA.BO) and AFP Profuturo's main shareholder is a unit of Bank of Nova Scotia (BNS, BNS.T).
Chile's AFP Habitat won a recent auction to manage new entrants into the system.
Write to Robert Kozak at robert.kozak@dowjones.com
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