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Mexico City, Apr 17 (EFE).- Mexico's BBVA Bancomer, a unit of Spanish banking giant BBVA, said it entered into an alliance with U.S. mutual fund giant Franklin Templeton so it can offer customers more options for investing in emerging markets.
The two financial firms "are merging their experience in managing Fondo BBVAEMG" to offer customers products for diversifying equity portfolios with exchange traded funds, or ETFs, and other assets that offer high growth potential, BBVA Bancomer said.
Fondo BBVAEMG will give customers access to emerging markets, including Saudi Arabia, Argentina, Brazil, China, Colombia, South Korea, Egypt, the Philippines, Hungary, Hong Kong, India, Indonesia, Israel, Malaysia, Mexico, Morocco, Peru, the Czech Republic, Russia, South Africa, Taiwan, Thailand and Turkey, BBVA Bancomer said.
The fund currently has assets of more than 477 million pesos (about $39 million) and more than 1,000 investors, the bank said.
Fondo BBVAEMG has a long-term investment focus and seeks returns that exceed those of its benchmark index.
Franklin Templeton Investments, which is based in San Mateo, California, has been in the financial services business for more than 65 years and has over $823 billion under management.