Mutual Fund Participation in Peru Hits New Record Despite Past Economic Challenges
Lima, Peru – A new record of 462,958 participants in mutual funds was reported in Peru as of August, surpassing the previous high of 441,109 recorded in March 2021 - a period just before a significant outflow of capital following the election of Pedro Castillo. The data, released by the Superintendency of the Market and Insurance (SMV), reflects growth across 199 funds administered by 16 competing management societies.
While debt funds remain the most popular, flexible funds and fund-of-funds are experiencing notable growth. Specifically, dollar-denominated assets within flexible funds increased by 42.1% year-over-year (August 2024 compared to August 2025), while those denominated in soles expanded by 82.8%.
“We see several companies (mutual fund managers) that are growing, have created or have been improving their applications. That is very good,” highlighted Rolando Luna Victoria, CIO of Faro Capital.
Analysts attribute the sector’s expansion to advancements in technology and a wider range of investment options. paul Rebolledo of Tandem Finance noted a key milestone between 2009 and 2010 when mutual funds began being independently valued, moving away from a self-valuation system.
“The technology and the expansion of the value of value (private debt, structured notes, fund funds, Crypto world, real estate funds, among others) are the main ally in the growth of the sector in the following years,” Rebolledo stated.
Recent shifts in investor behaviour have also been observed, with funds previously held in term deposits now seeking choice investment vehicles.
The article was written by guillermo Westreicher Herrera, an economist with experience in journalism and digital media.
