Afore XXI Banorte has a structure of sixteen Companies Specialized in Retirement Funds (SIEFORES), which aim to offer long-term investments; It has the objetive of offering the best returns throughout the different stages of accumulation of savings. In this way, the resources are invested in the SIEFORE that corresponds to the client's age group (lifecycle funds). The objective of the Private Pension Funds are aligned with the same investment philosophy and believes of Afore XXI Banorte. Most of the Private Pension Funds replicate the same structure of the SIEFORES but in some particular cases we design a taylor made portfolio reflecting the client requirements.
On the other hand, GFNorte have a Asset Manager called "Operadora de Fondos Banorte", which has a product offering structured through different types of investments and strategies within a wide range of financial assets that, together with an Investment Advisor, allow clients to build the portfolio that best suits their particular liquidity, investment horizon and diversification needs.
For this report, the figures of the responses were made under the scope of AUM of Afore XXI Banorte due Operadora de Fondos Banorte is still in the development of the implementation of its methodology.