GSIS plans more overseas investments

  • Page Views 237
  • 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

    • 22 February 2018
      1 day ago No comment

      Erich Gonzales, one of ABS-CBN’s most exciting actresses, topbills “The Blood Sisters”

      QUEZON CITY, PHILIPPINES — A bolder and sexier Erich Gonzales is set to portray three women whose lives are fused by love but destroyed by fate in ABS-CBN’s newest series “The Blood Sisters,” which can be seen in the Philippines via ABS-CBN channel 2, and outside the country via ...

    • 22 February 2018
      1 day ago No comment

      PAL and Cebu Pacific agree to fly back Kuwait OFWs

      Cebu Pacific and PAL have heeded President Rodrigo Duterte’s call to ferry (Overseas Filipino Workers), Kuwait OFWs who wish to be repatriated, following the recent death of an OFW whose body was found inside a freezer. The President made the request on Friday at a press conference in Davao, where he ...

    • 20 February 2018
      3 days ago No comment

      GMA Pinoy TV partners with Philippine Nurses Association of America’s Events

      GMA Network’s flagship international channel GMA Pinoy TV provided full support to the recent back-to-back events organized by the Philippine Nurses Association of America, Inc. (PNAA) for local and international nursing delegates. The events held in Manila last January 25 and 26 dubbed, “Filipino Nurses Global Summit II” and ...

    • 20 February 2018
      3 days ago No comment

      Marian Rivera continues her journey as a Kapuso

      Primetime Queen Marian Rivera remains a loyal and full-fledged Kapuso as she renewed her exclusive contract with GMA Network, Inc. last February 5. Marian, who has been a Kapuso for more than a decade, said she feels happy and fulfilled with her renewal of contract with GMA 7, “Malaki ...

    • 20 February 2018
      3 days ago No comment

      It’s nice to be the boss – Ryzza Mae Dizon

      RYZZA Mae Dizon continues to impress the viewing public with her wit, charm and humor as she takes on a new role in longest running noontime variety program “Eat, Bulaga!” (EB). Gone are the days when the former “Little Miss Philippines” winner was recognized by many through her moniker ...

    %d bloggers like this: