Moody's maintained a stable outlook for Latin American asset managers due to growth opportunities and conservative positioning that will benefit the region's firms.

In particular, Mexican asset managers' conservative investment strategies are driven by the increased uncertainty for growth and trade in the country following the U.S. elections. In addition, assets under management will grow slower than in past years.

Growth at bond funds will be more affected than that of pension funds, José Montaño, a vice president and senior analyst at Moody's, said.

In Argentina, the operating environment for fund managers will improve by 2017 with a better economic outlook, despite high inflation and large fiscal deficits.

"Most importantly, the country's renewed access to international markets will allow asset managers to start offering investors products that give them cross-border exposure," Moody's said.

Meanwhile, Brazilian funds will have slower net inflows in 2017 after recovering strongly in 2016, due to persistent low growth.