The investment fund market in Mexico is solid, growing, and has shown resilience in times of uncertainty; however, it remains highly concentrated among a few managers.
The Mexican Association of Securities Intermediaries (AMIB), in its September report, confirms this concentration: the six largest fund managers in the Mexican market hold nearly 75% of the market, precisely 74.32%, while the remaining 25.68% is distributed among 24 other managers.
According to AMIB data, the two largest managers in the Mexican market, BBVA and BlackRock, alone operate 43.35% of the total market. When adding Santander Asset Management (SAM), the other manager with a double-digit market share, the concentration among these three intermediaries reaches 53.27%.
The list of the six largest investment fund managers in the market and their shares, according to AMIB figures, is as follows:
– BBVA, the largest manager in the market, with 24.53% of the total.
– BlackRock with 18.72%
– SAM with 10.02%
– Banorte with 8.64%
– Actinver with 6.26%
– HSBC with 6.15%
The combined share of these six managers is 74.32%, while another 24 fund operators in the country hold 25.68% of the market.
The Mexican system comprises 30 investment fund managers; as of the end of September, these managers served a total of 6,591,023 clients, representing an annual increase of 18.15%.
AMIB also notes that the Mexican market currently has 634 funds available, while total assets amount to 4.129 trillion pesos ($211.74 billion), with an annual growth rate of 24.92% as of September. However, some revisions to the figures are made at year-end to produce a final report.
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