Philippine state pension fund to venture overseas

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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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. "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,...

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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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