BUENOS AIRES - Five years after their inception, and while there are still some two million potential clients yet to be converted from the old state system, Argentine pension fund management companies (AFJPs) seem to have lost some of the aggressiveness that characterized their debuts. Instead, they appear to be concentrating their commercial strategies on developing the loyalties of the members they already have in their portfolios.

"Maintaining a client is much cheaper than looking for a new one to replace him, and the industry in general is on the verge of this objective," said Jose Aragone, manager of marketing at Consolidar AFJP. "Our goal as a business is to make a difference at the time in which service is received by the person."

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.