mmegi

Global turbulence shaves billions from pension funds

Eyes on the ball: Motshidisi
Eyes on the ball: Motshidisi

The value of assets held by local pension funds dropped to P113.5 billion in September, more than P5 billion down from the January position, as the turbulence in global markets rattles local investors.

Much of the losses in pension funds this year are associated with investments in the international tech sector, where downtrends in global giants such as Facebook, Apple, Amazon, Netflix and Google (known as FAANG) have led market turbulence.

Last year, the value of pension fund assets surged to P120.1 billion in December from P106 billion in January, buoyed by the robust performance of the FAANG group.

Editor's Comment
The time is now to relax adoption laws

Over the years, there has been many reports of infants being abandoned by parents. Many factors can contribute to child abandonment, some of which may stem from mental health issues and lack of support, but other reasons may be that one could have made better choices with proper education. Some parents abandon their infants due to financial difficulties and the fear of having to provide for a newborn. Many developed countries have come up with...

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