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Administración de fondos de pensiones y multifondos en Colombia

  • Alejandro Reveiz


  • Carlos León


Este documento evalúa la regulación vigente relacionada con la inversión de losrecursos de los Fondos de Pensiones Obligatorios (FPO), para lo cual se analiza el perfilde eficiencia del sistema dadas sus actuales restricciones. De acuerdo con los resultadosobtenidos, se observa que el marco regulatorio de las inversiones de los FPO restringenel retorno esperado y hace que los administradores de portafolios no accedan a nivelessuperiores de retorno por unidad de riesgo con mayores beneficios de diversificación.Las propuestas apuntan hacia la flexibilización de las restricciones a las inversiones y asu adecuación al perfil de riesgo de los cotizantes, utilizando para ello el esquema demultifondos implementado en otros países de la región.

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Paper provided by BANCO DE LA REPÚBLICA in its series BORRADORES DE ECONOMIA with number 004598.

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Length: 28
Date of creation: 06 Apr 2008
Date of revision:
Handle: RePEc:col:000094:004598
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