GSIS plans more overseas investments

  • Page Views 2927
  • State-run Government Service Insurance System ( GSIS ) is planning to invest $800 million overseas to diversify its investments and take advantage of good returns.

    In a press briefing, GSIS president and general manager Jesus Clint Aranas said the state pension fund is planning to further increase its overseas investments to about five percent of its assets from the current one to two percent share.

    In line with this, the GSIS intends to invest in a Multi-Asset Strategy, deploying about $800 million of its portfolio into foreign currency denominated instruments this year.

    Aranas said the GSIS is currently looking for two external fund managers to handle the investments.

    “This is really testing the waters in investment so it’s not so big, we want to see how they handle our funds also,” Aranas said.

    According to Aranas, investing overseas would help the GSIS meet its return-on-investment target of nine percent per year. Currently, he said the GSIS investments in fixed income only yields about 5.5 percent.

    “Global market is performing very good these days. Our return-of-investment average of 5.5 percent is below our ideal rate of nine percent per annum. We want to beat that, the index, that’s why we have a risk conservative approach,” he said.

    Aside from foreign-currency instruments, Aranas said the GSIS also intends to increase its investment in infrastructure.

    “We really want to be part of the government’s massive infrastructure program, preferably equity. We are looking for the right partners,” he said.

    Gracita Gilda Bocanegra, of the GSIS’ Fund Management Group, said the state pension fund plans to optimize investments in real estate and private equity.

    As of November 2017, Bocanegra said the GSIS’ net income jumped 52.52 percent to P84.15 billion from P55.17 billion in the same period in 2016.

    M.G. Padin, PS

    Share

    New Posts Recently publish post More

    • 29 July 2021
      5 days ago No comment

      With multiple medals, Tokyo 2020 an Olympic banner year for Philippines

      The Philippines will finish with multiple medals in the ongoing Olympics. This means that the Tokyo 2020 Olympics will represent a banner year for the country. The Philippine Daily Inquirer observed that this will be the first time since the Los Angeles 1932 Games that the Philippines will win ...

    • 22 July 2021
      2 weeks ago No comment

      Lolit Solis hints at Kris Aquino’s possible run in 2022

      Will Kris Aquino run in the national elections in 2022? This was the question of veteran entertainment journalist Lolit Solis who promised to vote for Kris should she decide to run in the national elections next year. But Lolit advised Kris not to run for mayor in Quezon City ...

    • 22 July 2021
      2 weeks ago No comment

      Philippines administers 15.6 million COVID-19 shots

      The Philippines has administered 15.6 million doses against the COVID-19 virus. Harry Roque, spokesperson of President Rodrigo Duterte, shared this number in a media briefing Wednesday (July 21). Of the 15.6 million does administered by the government, Roque said 10,585,261 million persons got their first dose. As well, 5,031,301 ...

    • 17 July 2021
      3 weeks ago No comment

      First Nations peoples condemn tweet on Church burnings

      At a press conference in Vancouver, Pentecostal assistant minister Jenn Allan-Riley, a 60s scoop survivor whose mother attended residential school, called for the wave of church arsons to stop. She adds that “Burning down churches is not in solidarity with us Indigenous people. As I said, we do not ...

    • 17 July 2021
      3 weeks ago No comment

      Paki-Ayos: A New Service for Filipinos in Canada

      Paki-Ayos Services Inc. will do errands for you in the Philippines Do you need something done in the Philippines, but air fare, accommodations, and pasalubong cost too much for you to go back home? A new service, Paki-Ayos, is here to help. Forget about going on a very expensive ...

    %d bloggers like this: