Mexico Pension Giant Afore Sura Sees Banamex Deal as One of Many in Sector

One of the largest players in Mexico’s booming pension fund system is eyeing more investments in the country’s financial sector after purchasing a stake in Citigroup Inc.’s retail bank Grupo Financiero Banamex.

Afore Sura, the third largest pension manager in the country — overseeing 1.4 trillion pesos ($81.8 billion) — says there’s potential to put money into the sector even as fintech startups encroach on traditional players’ territory and force them to slash fees, said Andres Moreno, chief investment officer for the fund.