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Pension funds surpass NBFIRA’s repatriation target

Friday, March 08, 2024 | 2260 Views |

Public investment: Pension funds are eyeing NDP12 which has a dedicated Public Private Partnership window through which private capital can boost public works PIC: MORERI SEJAKGOMO

Local pension funds grew their assets by almost 13% last year, reaching P139 billion by December, with their domestic portfolio constituting 40.6%, surpassing the target set by the regulator.

Under amendments to the Retirement Funds Act, the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) mandates pension funds to raise their domestic holdings to a minimum of 50% of their total assets, progressively between 2023 and 2027.

Formally known as Pension Fund Rule 2 or PFR2, the NBFIRA statute previously mandated pension funds to invest a minimum of 30% of their assets locally.

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Pension funds surpass NBFIRA’s repatriation target

Local pension funds grew their assets by almost 13% last year, reaching P139 billion by December, with their domestic portfolio constituting 40.6%, surpassing the target set by the regulator.

FIFA World Cup draw – The countdown begins!

DIS Director's daughter rape case stalls

Main Mall’s resilience, sturdiness in the face of stiff competition

When defiance becomes personal brand equity

De Beers’ new owner should be the one who can fix it

Mascom leads digital literacy drive, launches smart classroom

title

Depression is real; let's take care of our mental health

Depression is real; let's take care of our mental health