Axis Pension Trust, an indigenous pensions management company, has received a continental award in recognition of its high standards of pension risk management. The award was presented to the company at the second Africa Pensions Awards held in Abuja, Nigeria. The company also took the first place in the Innovations in Risk Management category.
Chile’s $176 billion pension fund industry is about to get a whole new range of investment options. President Michelle Bachelet signed a law Thursday that will allow pension funds, known as AFPs, to invest directly in closely held companies and real estate for the first time, as well as buy shares in infrastructure concessions. The law will come into effect in 12 months, when all the accompanying regulations are in place.