72. Afore Coppel on Mexico’s pension future; demographic challenges; and more fintech deals with Clip and OXXO

Juan Manuel Valle, CEO of Afore Coppel, Mexico’s largest pension fund by affiliates, discusses the opportunities and challenges facing retirement savings in Mexico.

* How Afore Coppel became the largest pension fund by affiliates, despite entering the market much later than others.

* How different income groups face very different retirement challenges.

* Why contribution weeks, formal employment and voluntary savings matter.

* How younger customers can follow a longer-term investment strategy, with more exposure to equities and alternatives.

* How Afores can help finance Mexico’s infrastructure needs, but only when the economics make sense.

Eduardo and Damian first dissect the main business and economic stories of the week:

* World Cup protests by the CNTE teachers’ union highlight Mexico’s pension challenge: insufficient funding for current commitments, ony to be made worse by an ageing population.

* Fintech is back: Clip launches Mi Clip with Ant, Mastercard and TelevisaUnivision; FEMSA brings QED into OXXO credit.

* Betterfly buys Minu; Mercado Libre announces its Mexico US$4.6bn ‘’investment” number.

* Trump knocks USMCA as multi-year revisions loom.