In June 2024, the retirement fund administrators (afores) In Mexico, there was a significant increase in the capital gainsreaching a new annual high, according to data provided by the National Commission for the Retirement Savings System (Consar).
The month reported capital gains of 101,624.7 million pesos, a 52% increase in real terms compared to the same period last year and a growth of 22.7% compared to May 2024.
During the first half of the year, with the exception of April, where disabilities were recordedall other months showed significant gains, accumulating a total of 152,616 million pesos in capital gains for workers.
In addition, in the last twelve months, the Total capital gains generated amounted to 407,060.9 million pesosThe investment of the Afores in government bonds and company shares has been a key factor in driving these returns.
These instruments represent 70.33% of the total invested by the administrators, with 49.69% of workers’ money placed in government debt at the end of June.
As regards monetary policy, the Bank of Mexico (Banxico) The bank maintained the reference rate at 11% on June 27, a decision that was in line with market expectations and that did not negatively affect the securities held by the Afores, despite the volatility that usually accompanies changes in the rate.
On the international front, the stock markets in the United States reported a positive performance in June, with the Nasdaq growing by 6.18%, the S&P 500 by 3.47% and the Dow Jones by 1.12%. However, the Mexican Price and Quotation Index experienced a 5% drop in the same month.
At the end of June 2024, the Afores managed more than 6.23 billion pesos, which represents a real increase of 6.9% compared to the same period in 2023.
This growth reflects not only the strength of Mexico’s retirement savings system, but also the Afores’ ability to navigate a complex economic environment and maximize returns for workers.
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