The CEO of SURA Asset Management, Ignacio Calle, calls on social and institutional agents to protect worker savings amid the current COVID-19 crisis.

 

We, in SURA Asset Management fully understand that we all must join forces to overcome the challenges we face as a society, given the COVID-19 pandemic. This is why we are fully committed to finding responsible alternatives in order for our savers and pensioners to cope with the current emergency, without risking their future.

These are indeed uncertain times, and we must all work hand in hand with our governments, taking full responsibility for our actions and providing practical solutions for overcoming the economic and social effects of this pandemic. We therefore understand that exceptional measures must be taken to mitigate some of these impacts. At the same time, it is our duty to ensure that the decisions taken to address the urgency of the moment, do not give rise to other problems in the mid to long term, which would have a regressive effect on the entire population. So, it is with this in mind, that we would like to call on the overarching sense of responsibility of different social and institutional agents in protecting the financial resources of our people.

Pension funds represent the savings of our workers and therefore rise above and beyond any interest that pension fund management firms may have. These are the product of many years of hard work on the part of millions of citizens throughout the region. Consequently, our responsibility as caretakers and managers of these savings is to ensure that the financial instruments set up to protect our society maintain their essential purpose.

The use of unemployment insurance or severance payments in countries such as Colombia, Chile and Mexico are concrete examples of how these instruments can help protect people in dire situations. For all those who need to make use of such benefits, flexible application and disbursement processes have been laid on to ensure swift and opportune responses while providing easily accessible solutions for fund members.

Similarly, as pension fund administrators and asset managers, we are taking on the role that we must play in the economic recovery to come with the utmost responsibility. We are committed to continuing as major funders of social investment and other development projects on a country-wide level, while at the same time improving people’s lives.

Finally, the current situation only goes to remind us of the importance of saving in order to cope with uncertain economic situations. This has indeed renewed our purpose of finding ways to ensure the financial well-being of all Latin Americans.

We therefore would like to reiterate our commitment to building solutions to address the current crisis, this based on complementary alternatives and articulated strategies as part of a concerted effort on the part of the State, the business sector and the public at large. To this end, we would like to offer our knowledge and skills in building a brighter future for everyone.

 

Ignacio Calle Cuartas

CEO - SURA Asset Management