...This report aims to identify the best balanced funds (FIRVs) in terms of the annual average return observed over a three-year period, a very consistent term to evaluate this fund type. For this purpose, the risk-adjusted return (RAR) ratio was the main indicator used for evaluation. The report also highlights managers distinguished by having high-performing funds. Eligibility Requirements: The FIRVs included in Fitch Ratings' analysis have an operating history of at least three years. In addition, for better comparability, the analysis included funds with assets under management (AuM) greater than or equal to MXN100m and within a peer group (PG) composed of at least five funds. Participating Funds: At year-end 2013, there were 267 FIRVs in Mexico operated by 26 managers. The requirements mentioned above were fulfilled by 145 funds, whose AuM (MXN311,366m) represents a high percentage of the total managed by the FIRVs (87.2%). PGs: For a proper relative comparison among the FIRVs, Fitch...
