{
  "crd_number": 126683,
  "slug": "pichardo-asset-management-s-a-de-c-v-mexico-city-126683",
  "primary_business_name": "PICHARDO ASSET MANAGEMENT, S.A. DE C.V.",
  "legal_name": "PICHARDO ASSET MANAGEMENT, S.A. DE C.V.",
  "dbas": [],
  "city": "Mexico City",
  "state": null,
  "country": "Mexico",
  "cbsa_code": null,
  "metro": null,
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2003-05-30",
  "years_registered": 23,
  "period": "2026-10-01",
  "filing_date": "2026-02-18",
  "carried_forward": false,
  "raum_total": 89759598.0,
  "raum_discretionary": 65411917.0,
  "raum_non_discretionary": 24347681.0,
  "raum_band": "25m_100m",
  "raum_band_label": "$25 million to $100 million",
  "total_employees": 8,
  "advisory_employees": 5,
  "client_count_bucket": null,
  "clients_by_type": {
    "investment_companies": {
      "raum": 74126812.0,
      "count": 3
    },
    "high_net_worth_individuals": {
      "raum": 15632786.0,
      "count": 7
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [],
  "websites": [
    "https://paminversion.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/126683",
  "city_as_filed": "MEXICO CITY",
  "url": "https://advisorcensus.com/firm/pichardo-asset-management-s-a-de-c-v-mexico-city-126683",
  "display_name": "Pichardo Asset Management, S.A. de C.V.",
  "summary": "Pichardo Asset Management, S.A. de C.V. is an SEC-registered investment advisory firm in Mexico City, Mexico, registered since 2003, reporting $25 million to $100 million in regulatory assets under management in its Form ADV filing dated February 18, 2026.",
  "citation": "AdvisorCensus. Pichardo Asset Management, S.A. de C.V. (CRD 126683): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients"
  ],
  "quick_answers": [
    {
      "q": "How is Pichardo Asset Management, S.A. de C.V. compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Pichardo Asset Management, S.A. de C.V. reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Pichardo Asset Management, S.A. de C.V. located?",
      "a": "Pichardo Asset Management, S.A. de C.V.'s principal office is in Mexico City, Mexico, according to its Form ADV."
    },
    {
      "q": "Is Pichardo Asset Management, S.A. de C.V. registered with the SEC or a state?",
      "a": "Pichardo Asset Management, S.A. de C.V. is an SEC-registered investment advisory firm, registered since 2003. Status as filed: Approved. CRD 126683."
    },
    {
      "q": "How much does Pichardo Asset Management, S.A. de C.V. manage?",
      "a": "Pichardo Asset Management, S.A. de C.V. reports $89,759,598 in regulatory assets under management in its Form ADV filing dated February 18, 2026 (73% discretionary)."
    },
    {
      "q": "How have Pichardo Asset Management, S.A. de C.V.'s assets and staff changed since 2021?",
      "a": "In the Form ADV data for Pichardo Asset Management, S.A. de C.V.: Regulatory assets under management: $40,598,000 in the October 2021 data and $89,759,598 in the October 2026 data, up 121%. Total employees: 13 in October 2021 and 8 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Pichardo Asset Management, S.A. de C.V. serve?",
      "a": "By number of clients on Form ADV Item 5.D: high net worth individuals (7); investment companies (3)."
    },
    {
      "q": "Does Pichardo Asset Management, S.A. de C.V. report any disciplinary disclosures?",
      "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/126683"
    },
    {
      "q": "What changed in Pichardo Asset Management, S.A. de C.V.'s recent Form ADV filings?",
      "a": "In the March 2026 filing data: Regulatory assets under management went from $67,661,976 to $89,759,598 (+33%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 40598000.0,
      "total_employees": 13,
      "filing_date": "2021-03-18"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 71913000.0,
      "total_employees": 12,
      "filing_date": "2022-03-17"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 71771000.0,
      "total_employees": 10,
      "filing_date": "2023-04-03"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 89018868.0,
      "total_employees": 7,
      "filing_date": "2024-04-22"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 67661976.0,
      "total_employees": 9,
      "filing_date": "2025-03-28"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 89759598.0,
      "total_employees": 8,
      "filing_date": "2026-02-18"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-03-01",
      "period_label": "March 2026",
      "notes": [
        "Regulatory assets under management went from $67,661,976 to $89,759,598 (+33%)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/pichardo-asset-management-s-a-de-c-v-mexico-city-126683.md",
  "clients": [
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 7,
      "fewer_than_5": false,
      "raum": 15632786.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 3,
      "fewer_than_5": false,
      "raum": 74126812.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/126683",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}