Diego Mora

COUNTRY MANAGER, BLACKROCK, COLOMBIA

What are some key milestones for BlackRock since 2022?

BlackRock has been in the country since 2012, and currently invests USD5 billion in Colombia with a focus on fixed income, public debt, and equities. These assets belong to institutional and retail investors that have entrusted BlackRock with the mandate to invest them on their behalf. Some important milestones include the introduction of ICOLCAP, the largest Colombian equities fund globally, operating as a locally domiciled exchange traded fund (ETF) and trading on the Bolsa de Valores de Colombia. It attracts resources from institutional and retail investors, mainly Colombians, following the MSCI COLCAP index for Colombian equities. Another key highlight is BlackRock’s private assets platform in the country, which includes two infrastructure debt funds. The first was launched in 2017 with USD280 million, while the second, launched in 2022, holds the record as the largest private fund raised in the country, securing COP2.7 trillion. As an asset manager, BlackRock oversees these funds to help clients achieve their financial objectives. Each infrastructure project in which BlackRock invests typically creates between 3,000 and 5,000 jobs each, with 70% of employment originating from project areas. With five projects in Fund One and three in Fund Two, BlackRock’s investment strategy exemplifies how an asset manager can positively impact employment and economic growth, aligning with government goals for counter-cyclical measures.

How has BlackRock remained resilient in the last few years?

We take pride in making investments accessible to a diverse range of investors. Recognizing the complexity often associated with the financial world and aiming to break down barriers. BlackRock, the largest manager of ETFs, offers iShares, and makes these instruments available for both institutional and individual investors, including those in Colombia. Our commitment to transparency and democratizing investments is demonstrated by the cross-listing of international ETFs on the Colombian Exchange. Through the Mercado Global Colombiano, a part of the Colombian Exchange dedicated to international securities, investors can access ETFs representing global markets. This allows individuals, regardless of wealth or background, to directly invest in such instruments in Colombian pesos through their local broker dealer. ✖

BIO Diego Mora is the Country Manager for Colombia, Peru and Central America, and a member of BlackRock’s Latin America Regional Operating Committee. He joined BlackRock in 2006 as part of the Latin America team in San Francisco. Prior to BlackRock, Mora served as economic research analyst and asset allocation specialist at Skandia Pensiones y Cesantias and Citibank in Bogotá. He holds an MBA from the Haas School of Business at the University of California at Berkeley and a BS in economics from Universidad de Los Andes.