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Chilean asset manager HMC Capital to open office in Mexico

HMC Capital Management Group will open an office in Mexico, following regulatory changes that allow international fund managers to invest in the country, Diario Financiero reported on Sept. 30.

The Chile-based asset management company tapped Eduardo Vásquez as country head for Mexico. Vásquez is currently HMC Capital's business development head in Colombia.

The move comes as Mexico opens up the pension funds market to international players following changes in regulatory legislation in 2018. Under the new rule, pension fund managers, locally known as afores, are allowed to define what instruments they could include in their investment portfolios.

This month, 42 funds, including 11 global fund managers, were given approval to operate in Mexico.

Founded 10 years ago, HMC Capital currently has more than $14 billion in assets under management.