The Central Bank of Uruguay reported the data recorded by the fund managers’ accumulation and retirement subfunds.
He Central Bank of Uruguay (BCU) published this Wednesday the data for maximum gross monthly return who registered in the Accumulation sub-fund and the Retirement sub-fund of the different AFAP (Administrator of Pension Savings Funds).
expressed in Resettable Units (UR), the average real return of the Accumulation sub-fund scheme was 1.17%. In the breakdown by administrators, the profitability of AFAP Surah it was of 1.47%; that of AFAP Republic of the 1.28%; in Union Capital AFAP of the 1.14%; and AFAP integration suffered a negative variation of the 0.02%.
On the other hand, the average real return of the Retirement sub-fund regime was 1.23%. Expanded by administrators, the profitability of Unión Capital AFAP was 1.55%; that of the AFAP Republic of 1.35%; that of AFAP Sura del 0.80%; and the AFAP Integration of 0.21%.
Maximum monthly gross return of the sub-funds
The maximum monthly gross return of the Accumulation sub-fund rose nominally one 0.73% in pesosthis implies a real rise in the 0.51% in dollarsbut a reversal of 0.61% in Indexed Units (UI), and of a 4.20% in UR.
In turn, the maximum monthly gross return of the Retirement sub-fund had a nominal rise of 1.13% in pesos, and a real 0.91% in dollars, however, the decline in UI was of 0.22%and expressed in UR, the drop was 3.82%.
The Accumulation subfund is the one with the largest number of affiliates, while the Retirement subfund brings together workers over 55 years of age who are 5 years from reaching the minimum retirement age.
According to what the BCU clarifies, from August 2014 the calculation of gross profitability is made in accordance with art. 116 of Law No. 16,713. At the same time, the Real Average Return of the regimes contemplates the change in the weighting of each Administrator in the total of the System in the period considered for the calculation.
Source: Ambito
