ENHANCING BUSINESS AND INVESTMENT OPPORTUNITIES BETWEEN MEXICO AND LUXEMBOURG MEXICO-CITY, OCTOBER 15, 2012 This event is organised with the kind support of:

opening address H.E. Mrs Sandra Fuentes-Berain Ambassador of Mexico to the Grand-Duchy of Luxembourg

H.E. Mr Luc Frieden Minister of Finance, Grand Duchy of Luxembourg Keynote address H.E. Mr Luc Frieden Minister of Finance, Grand Duchy of Luxembourg

LUXEMBOURG: IDEAL PARTNER TO EXPAND THE INTERNATIONAL BUSINESS OF MEXICAN COMPANIES Carlo Thelen Member of the Managing Board, Luxembourg Chamber of Commerce

Luxembourg, A GLOBAL Hub for financial services Fernand Grulms CEO, Luxembourg for Finance

LUXEMBOURG, INTERNATIONAL SERVICE PROVIDER FOR MEXICAN ENTREPRENEURS Introduction: Ernst Wilhelm Contzen, Chairman, The Luxembourg Bankers‘ Asssociation Moderator: Franciso da Cunha, Director, Deloitte Tax & Consulting Experts: José Da Silva, Head of Latin American Markets, BGL BNP Paribas Miguel Diaz-Fernandez, Senior Manager- Mediterranean and Latin American Markets, BIL Enrique Morales, Managing Director, UBS Mexico

INTRODUCTION Ernst Wilhelm Contzen, Chairman, The Luxembourg Bankers’ Association

SETTING UP A LUXEMBOURG HEADQUARTER – IT WORKS! Jose Da Silva, Head of Latin American Markets, BGL BNP Paribas Miguel Diaz-Fernandez, Senior Manager – Mediterranean and Latin American Markets, BIL Enrique Morales, Managing Director, UBS Mexico

European economic added value is situated whithin a 500 km radius. 40% of European economic added value is situated whithin a 500 km radius. (70% whithin 700km) Frankfurt 30 mins London 45 mins Amsterdam 350 km Berlin 1,5h Brussels 200 km Vienna 1h Prague 1,5h Paris 2h Zurich 1h Milano 1,5h Lisbon 2h Madrid 2h

WHY MEXICO IS GOOD FOR LUXEMBOURG Internationalisation ambitions of Mexican entrepreneurs Growth fundamentals Mexican economy Mexican exports to Brazil A priority for Luxembourg Investments in servicing capacity of Luxembourg Private Banks to Brazilian entrepreneurs Source of inspiration and strength Intercultural fit! - Multicultural and multilingual services

WHY LUXEMBOURG IS GOOD FOR MEXICO Ideal hub and gateway for investing in and via Europe Growing number of multinationals with European HQs in Luxembourg Strong ties with Mexico Safe place for investors Stock Exchange specialized in international bond listings International financial centre specialized in cross-border activities EU market = 500 M consumers Intellectual Property friendly Intercultural fit! - Multicultural and multilingual services

WHY LUXEMBOURG IS GOOD FOR MEXICO Specialized in serving the most sophisticated clients … Growing importance of Latin American Investments in Luxembourg … PB LUXEMBOURG GROWTH MARKETS

SERVICE OFFERING TO ENTREPRENEURS AND THEIR FAMILIES Property and personal credits Deposit and saving accounts Credit Cards Daily banking offering Daily Banking Services Direct Advisory Tax / retirement Advisory mgt Market research Brokerage Pension products Discretionary mgt Insurance solutions Investment funds Wealth Structuring Structured products Investment Services Family office Tax / retirement Succession planning Estate Planning Wealth & corporate structuring Art & collectibles Property & Real Estate Philanthropy Private Equity Microfinance / SRIs / Islamic Finance Cash management Trade Finance Corporate / Investment Banking Wealth Management Family office Tax / retirement Succession planning Estate Planning Wealth & corporate structuring Art & collectibles Property & Real Estate Philanthropy Private Equity Microfinance / SRIs / Islamic Finance Cash management Trade Finance Corporate / Investment Banking Wealth Management Daily Banking Services Investment Services Wealth Management Client sophistication Direct Advisory Tax / retirement Advisory mgt Market research Brokerage Pension products Discretionary mgt Insurance solutions Investment funds Wealth Structuring Structured products Investment Services SIF SOPARFI SICAR Property and personal credits Deposit and saving accounts Credit Cards Daily banking offering Daily Banking Services Complexity of solutions

High quality health care system and solutions Outstanding quality of life International schools Safest capital in the world Language & mindset – truly cosmopolitan

CONCLUSION

LUXEMBOURG, AN INTERNATIONAL REGULATED FUND CENTER: AN OVERVIEW OF UCITS AND OTHER VEHICLES Moderator: Marc Saluzzi, Chairman, Assoication of the Luxembourg Fund Industry (ALFI) Experts: Georges Bock, Managing Partner, KPMG Luxembourg Rafik Fischer, General Manager- Head of Global Investor Services, KBL European Private Bankers Oscar Franco, Chairman, AMAFORE Jon Griffin, Managing Director, JP Morgan Asset Management (Europe) Denise Voss, Conducting Officer, Franklin Templeton Investments Jérôme Wigny, Partner, Elvinger, Hoss & Prussen

Funds Product/regime overview UCITS Distribution impact SIF (Specialized Investment Funds) All asset classes Qualifying investors only Lower level of regulation Diversification requirement Transferable securities only Public distribution – EU Passport High level regulation AIFMD UCI Part II All asset classes Public distribution – no EU passport Medium level regulation SICAR Risk capital only Qualifying investors only Lower level of regulation Flexibility

Luxembourg funds: the vehicle of choice for cross-border distribution Luxembourg market share of foreign cross-border funds registered for sale Peru, 64% Chile, 73% Sweden, 71% Germany, 67% Switzerland, 70% Bahrain, 76% Singapore, 71% South Korea, 100% Japan, 61% Taiwan, 75% Hong Kong, 73% France, 70% Luxembourg UCITS distribution market Source: Global Fund Distribution analysis December 31, 2011.

Cross-border funds: an eu success story Number of cross-border funds and registrations Source: Global Fund Distribution analysis December 31, 2011

A FULL FLEDGED MARKET INFRASTRUCTURE… Regulator CSSF 66 Custodians 144 Fund Administrators Distributors 1. Private Banks 2. Life Insurance 3. Platforms 3 864 funds €2,300bn 13,000 jobs Stock exchange 6.398 listed funds Auditors/ lawyers 344 Management Companies (including 3rd party ManCo) PSF 324 … to support your international ambitions

MEXICAN PENSION FUND INDUSTRY: AN OVERVIEW Regulation on mutual funds Local and international mutual funds are allowed (hedged funds prohibited) Underlying assets must be authorized instruments Mutual funds must be traded in public markets of eligible countries Authorized mutual funds must comply with Leverage limits1/ Fees limits1/ CONSAR has special concerns regarding the frequency of portfolio structure reporting 1/Secondary regulation has not yet been published Memoria/OF/Presentaciones/Datos/RECURSOS TRABAJADORES CON PENSIONISSSTE Foreign Equity Local Equity Corporate Bonds Government Bonds

Thank you! www.lUXEMBOURGFORFINANCE.lu 22