SHORT NOTE ABOUT PENSION FUNDS AND HOUSING

One of the problems we have in El Salvador is lack of options for Pension Funds to invest. They can´t manouver that much to diversify risk because lack of options to invest. Also, almost no developers fund themselves in the Stock Market so practically all housing projects are made with short term funds (3 years at much) and pension funds cant canalize their funds to developers. There is no long term funding for developers. The Pension Fund industry has gone through a lot or mergers and there is actually only 2 Pension Funds owned by Financial Conglomerates, so Banks control this side of compettion.