AFPs considering US$1.5bn investment in two infrastructure projects

Tuesday, October 25, 2011

Peru's private pension fund managers (AFPs) are considering investing in two undisclosed infrastructure projects worth some US$1.5bn, state news agency Andina reported.

AFPs have sufficient assets under management to keep investing in the country, Aldo Ferrini, CIO of AFP Integra, was reported as saying.

At end-September, AFPs had 78.8bn soles (US$29bn) in assets under management, with some 55.7bn soles invested in the local market, according to the latest available figures from financial services regulator SBS.

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Several projects previously awarded by private investment agency ProInversión are now moving towards the finance stage, including irrigation, port and power line projects. AFPs are considering investing at this stage, Ferrini added.

AFPS are currently negotiating conditions for their involvement in the projects, and that more information could be available by the end of the year, said Alejandro Reyes, CIO of Prima AFP, the pensions unit of Credicorp (NYSE: BAP).