We are signatories of this initiative as a Financial Group (Grupo Financiero Banorte or GFNorte). However, according to the nature in which the assets are managed, we have developed two specific responsible investment strategies; one for our pension fund Afore XXI Banorte and another for our Asset Manager referred as Asset Manager Banorte in this report.
Afore XXI Banorte has a structure of twenty-one Investment Societies for Retirement Funds (SIEFORES by its acronym in spanish), ten Siefores corresponding to Target Date Funds (TDF´s), and eleven Siefores to Private Pension Funds. Both have the purpose to offer long-term investment and higher returns throughout the different stages of retirement savings. In this way, for the TDF´s, the resources are invested in the SIEFORE according to the client's generation and for the Private Pension Funds the aim is to be aligned with the same investment philosophy and beliefs of Afore XXI Banorte. Most of the Private Pension Funds replicate the same structure of the TDF´s, but in some cases, we design a tailored made portfolio reflecting the client requirements.
In addition, o Asset Manager Banorte 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 each response of the report it is specified in the scope, whether it applies to Afore XXI Banorte or Asset Manager Banorte.