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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.

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Editor's Comment
Celebrate responsibly, put safety first this holiday

“Safety first is safety always”– Charles M HayesAs most people begin travelling across the country to spend the President’s Holidays with family and friends, there is every reason to embrace the joy and togetherness that this period brings.While holiday periods bring joy, they are sadly often accompanied by a rise in road accidents, violent incidents and other avoidable tragedies. Too often, families that set out to celebrate together end...

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