BUENOS AIRES - The high volatility brought on by the seemingly inherent instability of Latin emerging markets is leading the Argentine Pension Fund Superintendent (SAFJP) to support measures that would open up this $11.5 billion industry to the global mutual fund market.

With the objective of diversifying the investment portfolios of the 15 Argentine AFJP pension funds in order to avoid repeats of the dismal -1.16 percent average system return obtained in 1998, sources from the government department said that its goal is to improve the possibility that pension fund affiliates over time earn an average of eight percent to nine percent annually.

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