The Development Capital Certificates were born in 2009 as a response to the need of the Retirement Fund Administrators to diversify their respective investment portfolios in alternative assets, including private entrepreneurial capital, real estate , as well as in energy and infrastructure investment projects.

CKDs are registered in the National Securities Registry and placed on the stock market through a public or restricted offering that is authorized by the National Banking and Securities Commission.

They are investment instruments created by the Mexican Stock Exchange and are in force since August 10, 2009. They are listed in equity instruments, along with shares, fibers and optional securities.

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The instrument is basically acquired by institutional investors, such as Investment Companies Specialized in Retirement Funds. Likewise, it has an investment period that normally fluctuates between three and eight years, which depends on the amount of investment, the specialization, the strategy to follow and its term.

It is an instrument that is focused on satisfying the need for capital for activities and projects that consume resources in the short term, but generate long-term flows, therefore it is ideal for own activities such as infrastructure, the real estate market, private capital, among others. .

At the time of its first 10 years of life in 2019, 24% of the total issuance of the instrument was destined for the real estate market, with 83.5 billion pesos, according to figures published by a Deloitte analysis, only exceeded for the emissions that were destined for companies in the energy sector.

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