Citicorp has raised its stake in a Peruvian pension fund, Profuturo. The purchase of an additional 18% stake in Profuturo, for $13 million, raises the U.S. bank's stake to 40%

Citicorp officials in Peru said the deal is part of a broader push by the bank to build up its international investments in pension fund management. Profuturo is Peru's fourth-largest pension company, administering an estimated $245 million of assets.

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