In 2022 funds A and B accumulated losses of -20.81% and -15.82% respectively; while fund C presented a fall of -9.21%. For their part, funds D and E obtained gains of 0.63% and 7.83% each.
In December 2022 only Fund E had a positive income. With the result of that month, the multi-funds closed last year with mixed results, with Funds A and B registering the greatest losses.
According to a bulletin from the consulting firm Ciedess, the riskiest funds, A and B, registered losses last month of -4.43% and -2.95%, respectively, while fund C -of moderate risk- presented a drop of -1.56%.
The most conservative funds, D and E, obtained variations of -0.40% and 0.17% each.
Mixed results in 2022
According to the Ciedess report, with the result of December 2022, the pension multifunds closed the year with mixed results.
This is how funds A and B accumulated losses of -20.81% and -15.82% respectively; while fund C presented a fall of -9.21%. For their part, funds D and E obtained gains of 0.63% and 7.83% each.
“Since the creation of the multi-funds, the results above are the second worst cumulative performance for funds A, B and Cafter 2008, when the Subprime Crisis occurred, while for fund E it is the third best historical performance, after the returns recorded in 2009 and 2019”explained the consultant.
In detail, Ciedess said that the annual result of the multi-funds A, B and C was mainly affected by the variations in the prices of the variable income instruments and the dollar.
“The markets were affected by the pandemic, the Russia-Ukraine conflict, the fight against persistent inflation and fears of a global recession. They also highlighted the historical increases in interest rates in different countries, especially in the United States and Europe. For its part, China has been affected by the strong restrictions in the framework of the pandemicthe crisis in its real estate sector and falls in its projections of economic growth”, said the consultancy.
On the other hand, the profitability of the D and E funds is mainly explained by the results of the investments in local debt securities, as well as the performance of foreign fixed-income instruments.