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The pension funds of private pension fund administrators (AFP) were reduced to 236 million 862,812 soles in the first half, according to information from the Superintendency of Banks, Insurance and AFP (SBS)
In this way, the pension fund went from 154,887 million 435,987 soles on December 29, 2017 to 154,650 million 573,175 soles on June 29, 2018 according to the information of the regulator of the financial system
According to the information disseminated by the ABS, AFP funds recorded an average loss of of 0.77% between 29 December 2017 and 29 June this year.
Thus the Fund 3 showed a decline of 1.28% in the first half of 2018, the largest decrease compared to the other funds of the private pension plan (SPP) and greater than the loss average of the SPP funds, according to
The Fund 2 recorded a 0.66% drop in the first half of this year and thus recorded the second largest decrease compared to the other funds of the SPP. Although this loss is slightly lower than the average loss of PPS funds.
The Fund 1 has also reached a 0.38% retracement between the December 2017 closing and June 29, 2018, according to information published by the SBS
BCR explains
This week, Central Bank President Julio Velarde pointed out that AFP pension funds have had a negative performance since the beginning of the year because corporate stocks are down on the stock markets Peruvian and American .
"Shares (companies) fell not only in Peru, but also in the United States and this determined that (private) pension funds are declining, especially funds 2 and 3 which are more exposed to these actions ", explained this time.
He pointed out that even Peruvian pension funds are slightly more exposed to equities than Chilean and Colombian pension funds. "There is therefore no reason to be surprised," he said
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