Fitch Ratings ratifies Afore XXI Banorte’s Siefores rating of excellence

The international rating agency Fitch Ratings reaffirmed its rating of excellence for the Sociedades de Inversión Especializadas en Fondos para el Retiro (SIEFORES) managed by Afore XXI Banorte, recognizing its financial soundness, consistent returns and quality customer service.

With more than US$59 billion in assets under management, Afore XXI Banorte is positioned as the largest pension fund in Latin America.

The rating granted by Fitch covers the comprehensive evaluation of its 10 Basic SIEFORES and 11 Additional SIEFORES, highlighting five key criteria: investment process, customer support, risk management, investment resources and performance over time.

Fitch emphasized that the Afore has technological resources and financial models that are superior to the industry average, as well as robust corporate policies and risk management that goes beyond regulatory standards.

David Razú Aznar, CEO of Afore XXI Banorte, said: “We are committed to offering the best management and investment of retirement funds. This rating validates that our actions are focused on guaranteeing an efficient management of resources, so that our members obtain the best possible pension at the time of their retirement”.

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