...Positive Development of System Assets: The resources showed a positive evolution with an 8.3% increase from September 2014 to September 2015, when MXN2,469.6 billion were reached corresponding to 53.9 million accounts. This growth was boosted as a result of, among other factors, mandatory and voluntary contributions, as well as the return generated. Fitch Ratings expects that a similar tendency will remain in the medium and long term. Dynamic Regulatory Environment: The National Commission for the Pension System (Consar) remained active during 2015 and implemented regulatory modifications that will tend to benefit the net return and services offered to workers; and they will also continue strengthening the Pension System (SAR). The agency believes that the authority will continue proposing initiatives focused on strengthening the pension industry. Diversified Portfolios: During the year Siefores continued to diversify their portfolios. There was an increase in the participation in national...
