Philippine state pension fund to venture overseas

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gsisecardThe Philippines’ biggest state pension fund could seek investments abroad at a value of  $300 to $400 million in 2014 provided the global economy is improving, Robert Vergara, president of the Government Service Insurance System (GSIS), said at a press conference in Manila last week.

“A time has come for us to reconsider and deploy a portion of our assets externally, which would help dampen the volatility in our portfolio,” he said.

GSIS began making overseas investments in 2008 – before the global financial crisis – investing $600 million in stocks and bonds in the US, the UK, Germany, France, Japan and Australia.

However, the fund exited all its foreign investments in 2011 and reinvested the money locally to take advantage of higher yielding stocks and bonds. Of as June 30, almost half of the fund’s $16.8 billion in assets was invested in fixed income. Equities amounted to 16 per cent. The rest of the portfolio was in loans to government employees and in properties and cash.

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Reading Time: 1 minute

The Philippines’ biggest state pension fund could seek investments abroad at a value of  $300 to $400 million in 2014 provided the global economy is improving, Robert Vergara, president of the Government Service Insurance System (GSIS), said at a press conference in Manila last week.

Reading Time: 1 minute

gsisecardThe Philippines’ biggest state pension fund could seek investments abroad at a value of  $300 to $400 million in 2014 provided the global economy is improving, Robert Vergara, president of the Government Service Insurance System (GSIS), said at a press conference in Manila last week.

“A time has come for us to reconsider and deploy a portion of our assets externally, which would help dampen the volatility in our portfolio,” he said.

GSIS began making overseas investments in 2008 – before the global financial crisis – investing $600 million in stocks and bonds in the US, the UK, Germany, France, Japan and Australia.

However, the fund exited all its foreign investments in 2011 and reinvested the money locally to take advantage of higher yielding stocks and bonds. Of as June 30, almost half of the fund’s $16.8 billion in assets was invested in fixed income. Equities amounted to 16 per cent. The rest of the portfolio was in loans to government employees and in properties and cash.

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