AFPs to invest in electricity and retail to protect customers funds

Private Pension Fund Administrators (AFP) in Peru are evaluating new investment opportunities in the local market to protect their customers' funds from International financial crisis, reported Monday the investment central manager of Integra (AFP), Gonzalo de las Casas.

"At the moment, we are investing in infrastructure projects, but we are also interested in new investment opportunities related to electricity and retail", de las Casas stated.

He said the international financial crisis which is getting worse after US House of Representatives defeated a 700 billion dollar bailout plan, will have a minimum impact on the workers' pension funds.

"The biggest impact will be focused on global stock markets, which expected US Congress would pass the bill in order to overcome the crisis", he told Andina news agency.

He said most of the customers' funds are invested in the local market, so Peru does not have a direct problem with the financial crisis.

Publication: Andina - English Newswire
Provider: Andina
Date: September 30, 2008

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