Regulator: Pension assets hit US$6.91bn

Assets under management in Colombia's obligatory pension fund system grew 2.1% to 19.6tn pesos (US$6.91bn) at end-October this year, compared to the previous month, the banking regulator said in a statement. Porvenir led the pack among Colombia's pension fund managers, AFPs, in terms of assets under management with 5.3tn pesos at end-October, followed by Proteccion (4.5tn pesos), Horizonte (3.6tn pesos), Colfondos (3.02tn pesos), Santander (2.4tn pesos) and Skandia (586bn pesos). The AFPs saw total affiliates increase 0,8% to 5.14 million at the end of October, compared to the previous month. Colombia's unemployment fund managers posted assets totaling 2.7tn pesos at end-October, up 1% from the end-September with total affiliates reaching 2.94 million at the end of October, down 1.5% from the previous month.