Tech giants anchor DPF as assets reach P10.9bn

In an update to members, the country’s second-largest pension fund noted that assets in the fourth quarter grew by 5.2 percent, driven by global property, global equities, global bonds, emerging market bonds and emerging market equities.

The fund’s positive performance was largely contributed by six of the Magnificent Seven, a group that includes the tech giants Microsoft, Apple, Nvidia, Amazon, Alphabet, and Meta. Tesla was the only detractor of performance due to production hurdles, slowing growth, increased competition, and decreasing profit margins.