Colombia is on a communication and education campaign for mutual funds (fondos de inversion colectiva).
The industry is still small in comparison to North America or even Chile, but according to the Superintendencia Financiera de Colombia, AUM at 2014 year-end stood at $42 billion in some 129 funds.
Today, only 2% of Colombians invest in mutual funds, representing 6% of GDP.
The government’s initial goal is to move in the direction of Chile, Brazil and Mexico, where mutual funds represent a sizable part of GDP. Recent legislative changes and a greater focus on investor education and communication point towards product innovation and a focus on long-term savings via funds.
Much to do, but there are low-hanging fruit to be harvested for international fund firms.