NBFIRA stirs up hornet's nest with pension funds
Friday, November 05, 2010
In a move that potentially involves P23.5 billion, the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) has stirred up a hornet's nest in proposals that will require pension funds to return and invest home offshore assets by 2030.
The proposals entail amending the Pensions and Provident Act to require a maximum of 70 percent of pension fund assets to be invested locally and the balance offshore by 2030. At present, the Act requires fund managers to invest a maximum of 30 percent of their pension fund portfolios domestically and the balance offshore.
The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...