...Economic Outlook: Fitch Ratings estimates that Mexico's GDP will grow 3.80% in 2015. This is based on various factors, including private companies with better results, higher GDP growth in the U.S. and greater global dynamism. Moreover, Fitch perceives some risks, such as adverse changes in oil prices and security issues, which could alter the country's outlook both in the short and medium term. Positive Evolution of System Resources: As of Oct. 31, 2014, net assets managed by Afores totaled MXN2,309.2bn, up 14.1% from the same month the previous year. Growth has been generated by performance and net flows. Fitch expects that resources will continue to trend upward, driven by the contributions of law, capital gains and higher voluntary savings. Dynamic Regulatory Environment: The National Commission for the Pension System (Consar) continued implementing regulatory changes and expansion of the investment regime, which helped generate better net returns and services to workers. Fitch believes...
