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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.”

Editor's Comment
‘Fake’ drugs: A matter of life, truth and accountability

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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