Finance
BlackRock Nabs $460 Million in ETF as Mexico Goes Green
- New product draws flows as favored benchmark Mexbol ETF wanes
- Pensions ask Mexican companies to improve reporting standards
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Mexican pension funds are funneling money toward a new socially responsible ETF and demanding local companies offer more data on how they are handling environmental, social and governance issues.
BlackRock Inc.’s iShares ESG MSCI Mexico ETF has seen more than $460 million in flows since its launch at the end of July, according to data compiled by Bloomberg. During the same period, investors dumped about $350 million of the iShares Naftrac ETF that has been favored by local pension funds, or Afores, to bet on the benchmark Mexbol Index.