Saturday, May 28, 2014
Strong expansion of these funds is explained by the need of institutional investors to find profitable instruments, says an E&Y partner.
Investment funds are growing at a gallop in the local market, driven by the greater surpluses generated by people and companies.
At the end of last year, the assets managed by investment funds registered with the securities market superintendence (SMV) amounted to S/. 2,031 million, 41% higher than that observed in 2012.
The number of operating funds also grew, from 15 to 22, in that same period.
“There is more wealth in this country, from people who have much more money to invest than before. Not only companies, AFPs and other institutional investors such as insurance companies; There are also many people and family offices (family wealth managers),” said E&Y partner Marco Zaldívar.
“There are two effects: on the one hand, families and institutional investors have more money to invest in search of returns, and on the other, there are investment funds, which have the capacity to generate products for agents with surpluses,” he added. .
Long term
The market is going through a phase of creating investment funds for factoring (providing liquidity to SMEs), construction of buildings that are then rented, and financial instruments, among others.
“As the funds are relatively new, significant growth will continue to be seen over the next few years,” Zaldívar said.
He emphasized that investors should keep in mind that these are long-term funds, generally five to 10 years, and withdrawing from them early involves heavy penalties.
Source: Diario Gestión
