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The social security consulting firm Ciedess today announced that negative results had been observed for all multi-fund AFP funds, particularly those most exposed to equities.
The highest risk funds, type A and B, fell by -3.97% and -3.16%, respectively, while the moderate risk fund, type C, shows a -2 change, 12%. On the other hand, the most conservative funds obtain negative results, namely -1.05% for type D and -0.68% for type E.
According to Ciedess, the monthly result of multiple types of funds A , B and C are mainly explained by the return on investment of equity instruments – both internationally and domestically – while the change in the peso against the dollar mainly affects the riskiest funds (types A and B ).
Meanwhile, the World Index (MSCI World Index) recorded a drop of -7.42%, while the Dow Jones and S & P 500 Indices have negative results of -5.07% and – 6.94% respectively.
In turn, the European (MSCI Europe) and Asian (MSCI EM Asia) indices recorded respective losses of -7.72% and -10.96%, while the Emerging Markets Index ( MSCI EM) indicates a variation of -8.78%.
On the other hand, foreign investment was affected by the dollar's 4.81% rise against the peso, which had a positive impact on the riskier funds.
In addition, at the local level, the IPSA recorded a nominal decline of -3.39%, mainly due to the result of the shares belonging to the sectors of natural resources and services.
On the other hand, the profitability of the most conservative funds – types D and E – is explained by the results of investments in local debt securities and foreign fixed income instruments, affected by rising interest rates.
Similarly, in 2018, from January to October, mixed results were recorded for multiple funds. The riskiest funds, Types A and B, posted results of -4.68% and -3.42% respectively, while the Moderate Risk Fund, Type C, showed a -1.64 change. %.
For their part, the most conservative funds obtained positive results, namely 0.17% for type D and 1.71% for type E.
Meanwhile, over the last 12 months, they have been appreciated negative results for multiple funds, with the exception of type E. The riskiest funds, types A and B, recorded losses of -5.48% and -4.23% respectively .
At the same time, the moderate-risk type C fund showed a -2.42% change. For their part, the most conservative funds obtained mixed results, ie -0.34% for type D and 1.74% for type E.
Since its creation, in September 2002, to date, the multifonds show very positive real returns, ranging from 3.64% per annum in the case of E to the increase proportional to the exposure to equity instruments.
Thus, fund D reached 4.22% per year; Fund C recorded real annual growth of 4.71%; Fund B – the one with the largest number of affiliates – leased 5.13% and Fund A, with increased equity participation, generated a real annual return of 6.05%.
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