Pula Fund sheds P6.7bn in global equities rout

The Pula Fund’s investments are managed on a 50/50 between the Bank of Botswana (BoB) and several leading asset managers appointed by the central bank. The Fund’s investments are across asset classes all outside Botswana and include equities held in top Western markets.

In the last quarter of last year, global investors saw more than $7 trillion wiped off their holdings in equities held in major markets, led by a dramatic fall on Wall Street starting in October. The country’s pension funds lost P3.7 billion last year, mainly due to their investments in the global equities and mainly as a result of the fourth quarter collapse.