Colombia Lifts Pension Fund Foreign Investment Cap
Colombia revoked a previous decree capping private pension fund foreign investments at 30 percent. Finance Minister Miguel Gomez stated the move allows better portfolio diversification and higher returns for members.
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Colombia revoked a decree capping private pension fund foreign investments at 30%, Finance Minister Miguel Gomez announced on Wednesday morning. The reversal dismantles a policy introduced last April that forced capital repatriation for domestic infrastructure projects. The policy shift allows funds to access wider markets and pursue higher yields for nearly 20 million members.
