Legg Mason and Corporación Actinver has entered into a strategic alliance agreement that will allow Legg Mason’s investment strategies to be introduced to retail fund investors in Mexico, the companies announced Tuesday.

The partnership is an effort to encourage the development of the Mexican market and, by extension, help with the economic development of the country, Alonso Madero, CEO of Actinver’s Asset Management Unit, said in a prepared statement.

“The Mexican asset management industry is still underdeveloped compared to those in other countries so the opportunities are enormous,” he added.

Mexico City-based Actinver, Mexico’s largest private bank by number of clients, and the second largest by branches, will manage funds using investment models provided by three Legg Mason affiliates -- ClearBridge Investments, Martin Currie and Western Asset. Actinver provides private and wealth banking, asset management, wealth management and investment banking services.

Madero said the exclusive agreement provides Mexican investors with a robust lineup of funds featuring investment strategies designed and maintained by world-class investment managers. “By expanding access to international markets, we’re enhancing opportunities for diversification,” he added.

Lars Jensen, Legg Mason’s head of Americas International, said, the firms will continue to develop additional solutions for the Mexican investor.

“With the population of Mexico as well as the number of people accessing banking services expected to increase over the next 20 years, we see substantial growth potential in the country,” he said.