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BlackRock, Dutch Funds Buy Colombian Local Debt in April

(Bloomberg) -- BlackRock Inc. and funds managed by Dutch pension firms were net buyers of Colombian local debt last month, when that market saw net inflows of 1.4 trillion pesos ($309 million).

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Dutch pension fund managers, including Stichting Pensioenfonds ABP, bought a net of $130 million of the securities, while BlackRock, the world’s largest asset manager, purchased a net of $118 million, according to data from the nation’s Comptroller General’s Office seen by Bloomberg. Other big buyers include funds managed by London-based BlueBay Asset Management, Schroders PLC and Barings LLC.

Colombian local bonds returned 0.6% last month, while a basket of emerging markets local notes was little changed, according to a Bloomberg index.

Singapore, Abu Dhabi sovereign wealth funds, and Caisse de Depot et Placement du Quebec, a manager of public pension funds in the Canadian province, were among the biggest net sellers of the Colombian securities.

Volatility in the Andean nation’s assets increased amid political turmoil last month, when President Gustavo Petro shifted his cabinet and unexpectedly ousted the market-friendly finance chief Jose Antonio Ocampo.

Ricardo Bonilla, a close ally of the leftist president, was named finance minister. Since then, he has sought to assure investors Colombia will respect its fiscal commitments and the central bank’s independence.

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