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
BDF visitation approval a welcome development

BDF camps are military camps, and there is a need for stricter rules and regulations to safeguard their operations as well as ensure the safety of civilians. Of course, military personnel are human, and they have relatives as well as girlfriends and boyfriends, but the fact remains that the BDF is responsible for ensuring national security and stability and, as such, will be one of the first targets in the event of possible attacks. The decision...

Have a Story? Send Us a tip
arrow up