Offshore instability cuts BPOPF’s assets by P3bn

Hopeful: Loeto hopes the Fund can narrow its losses this year 
PIC: MORERI SEJAKGOMO
Hopeful: Loeto hopes the Fund can narrow its losses this year PIC: MORERI SEJAKGOMO

Assets under management at the Botswana Public Officers Pensioners Fund (BPOPF) slipped to P87 billion as at October 2022, down from about P90 billion in March due to instability in invested markets, BusinessWeek has learnt.

Addressing the media recently, the fund’s Chief Investment Officer, Tshephang Loeto said producing positive returns in the markets has been difficult ever since the end of the financial year in March, particularly on the offshore side.

“In April, May, June there were more negatives than the positives which were muted,” he said in response to BusinessWeek enquiries. “October was a better month compared to other months before, according to what we have gathered. “November was also better than October and we are hoping that markets will work in our favour.”

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