AFP Confía is El Salvador's second largest private pension fund manager. The company counts on technical support from Citigroup and is an indirect subsidiary of the Citibank Overseas Investment Corporation. El Salvador is the only Central American country with mandatory pension contributions, making the local private pension fund system by far the most sophisticated in the region. The two local AFPs manage about US$6bn worth of assets, equivalent to 26% of El Salvador's GDP. AFP Confía controls 48% of the market, with the remaining 52% held by AFP Crecer, owned by Colombian holding Grupo Empresarial Antioqueño. The company was founded in 1998 and is headquartered in San Salvador, El Salvador.
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