The mutual fund industry in Mexico is poised for growth in the coming years as average household incomes increase and Mexican investors change their savings habits, according to Business News Americas.

"People are becoming more and more conscious of which investment options are best for their resources," said Luis Orvañanos, private banking head of the Mexican office of Compass Group.

Orvañanos said there were just 200,000 clients in the Mexican mutual fund industry in 1997, but that number has grown to approximately 1.65 million.

Mexican mutual fund assets under management grew to 18% to $79.4 billion by the end of 2007, an increase of 33% from the previous year.

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