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BusinessLive reports that the Government Employees Pension Fund (GEPF) saw the growth of its investment portfolio grind to a halt for its past financial year, because of its exposure to the SA economy.
On Thursday, the fund published its annual report for the year ending March 2019, which showed that its portfolio only grew by 0.88% to R1.818bn during the year as poor returns from the JSE weighed on its equity. “We need to find other sources of income and return. This is related to the question of the diversification of the GEPF [into international assets]. If we are exposed to the SA economy ... then our portfolio hits a plateau,” said principal executive officer Abel Sithole. The small increase in the portfolio was largely due to the difference between contributions from members and investment income being greater than the benefits paid to members, essentially meaning the value of the portfolio remained static during 2019.
- Read the full original of the report in the above regard by Warren Thompson at BusinessLive
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