South Africa. Government pension fund should invest more in unlisted assets, says head
Government Employee Pension Fund Principal Executive Officer Abel Sithole told reporters on Thursday that the fund, its members and the economy could enjoy untold benefits if the fund broadened its investment portfolio’s exposure to unlisted investments.
The GEPF is Africa’s largest pension fund, with over 1.2m active members and more than 400 000 pensioners and beneficiaries. The GEPF’s investment portfolio currently stands at R1.8trn.
The fallout from PIC investments gone wrong, including AYO Technologies and Steinhoff International Holdings, has caused anxieties about Africa’s largest asset manager and the GEPF, which invests through the PIC.
The GEPF currently has R50.6bn invested in unlisted domestic equities, compared to R970bn in listed equities.
The recent investment storms prompted the establishment of a commission of inquiry into the PIC to investigate the circumstances surrounding the ill-fated investments.
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