A PFR2 tsunami and the market’s sink-or-swim moment
Wednesday, September 06, 2023 | 990 Views |
![Home of capital: Several asset managers are based in the Fairgrounds office area
PIC: MORERI SEJAKGOMO](https://cdn4.premiumread.com/?url=https://www.mmegi.bw/mmegi/uploads/images/2023/09/06/85472.jpg&w=800&q=72&f=jpg&t=1)
Home of capital: Several asset managers are based in the Fairgrounds office area
PIC: MORERI SEJAKGOMO
Local investment professionals reject the criticism that they are too conservative. The debate over changes to the pension fund rules, has been raging for years and at times accusations have been traded between the regulators and the investment professionals managing billions of Pula on behalf of the pension funds.
Known formally as the Pension Fund Rule 2 or PFR 2, the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) statute previously required pension funds to invest at least 30% of their assets locally. By May, that figure equalled P38.2 billion.
The BDP as a party known to have ample resources has always held its primaries well in time, but this time around that was not the case. The first leg of the primaries was held last weekend, with the final leg being billed for the coming weekend. This time around, the BDP failed to shine in its primary elections. The elections were chaotic; most if not all polling stations didn't open at the specified time of 6am. Loyal BDP members braved the...