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Global turmoil shaves P300m from DPF

Gosego January
Gosego January

The value of Debswana Pension Fund’s (DFP) assets declined by about P349 million in the second quarter of the year, due to volatility in global markets where the funds are invested, BusinessWeek has learnt.

From about P9.6 billion at the end of the first quarter of the year, the country’s second-largest pension fund ended the second quarter with net total assets of P9.2 billion.

“Investor pessimism seeped into markets driving both equities and bonds to fall further, thereby providing investors with limited opportunities for growth in the quarter,” the pension fund said in a recent update to its members.

Editor's Comment
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When claims of such gravity are made, especially by a sitting Assistant Minister they cannot be brushed aside, delayed, or treated as routine political noise. Even the Ombudsman has confirmed receipt of a report from a political party and a review of these complaints is now underway. That is a necessary first step. But it is only the beginning. The seriousness of the allegations demands urgency, transparency and clarity. The public is entitled to...

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