Pension funds in Panama under review
The profitability information provided by the pension operators is under review by the National Securities Commission (CNV).
Thursday, January 29, 2009
Prensa.com reports: "The deputy president of the CNV, Juan Manuel Martans, explained that as the regulatory entity, they want to ensure that the investment portfolio are being adequately evaluated by the companies that are managing the pension funds.
93% of the $58 million raised by the securitization of future revenues of the International Airport of El Salvador were provided by Pension Funds.
The Pension Fund Association revealed during a forum held by El Diario de Hoy newspaper that the funds administered by the PFA have reached $4.4 billion.
The reform voted in in El Salvador raises the ceiling rate on the amount of government funds that can be used to pay Social Security pensions to 45% and reduces commissions for the AFPs to 2.2%.
Micro financing company Fundeser, also known as the Foundation for Socio Economic Rural Development will in February its formal application to become a regulated financial company.
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