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Two First Trust ETFs approved for Mexican funded pensions


The Mexican pension funds investment regulator, La Comisión Nacional del Sistema de Ahorro para el Retiro (CONSAR), has approved two First Trust exchange-traded funds for sale to Mexican funded pensions, known as AFORES.

According to Mexico’s pension plan investment guidelines, before an ETF can be purchased in a pension fund it must be approved by CONSAR.
“We are pleased that our first two AlphaDEX ETFs are officially approved for sale to Mexican pension funds,” says Dan Lindquist, managing director of First Trust. “This opportunity helps to further expand the footprint of our merit-based AlphaDEX ETFs into a new institutional market for First Trust.”
The two funds that have been approved are: First Trust Large Cap Value AlphaDEX Fund (FTA); and First Trust Large Cap Core AlphaDEX Fund (FEX).
In addition, both funds are cross-listed on the Bolsa Mexicana de Valores under the same ticker symbols.
Currently, over 51 million Mexican workers save for their retirement in AFORES, according to CONSAR. There are approximately USD164 billion in assets under management in Mexican pension funds and CONSAR projects Mexico’s retirement savings will grow to USD225 billion by 2018.
“As Mexico’s retirement savings grows, we are delighted to provide local pension managers an option for investing in index-based ETFs that seek risk-adjusted excess returns over time by selecting and weighting stocks based on fundamental merit-based factors,” says Lindquist.

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