(PhilStar) CMANILA, Philippines — State-run Government Service Insurance System (GSIS) has beefed up its investment book to P891 billion by growing its share in the equities and infrastructure markets in foreign currencies.
GSIS president and general manager Rolando Macasaet said that the provident fund’s investment portfolio widened by more than five percent to P890.59 billion last year from P846.4 billion in 2020.
Macasaet reported that GSIS grew its investment book last year due to its new placements in equity and infrastructure resources in foreign currencies.
The 40 percent jump in foreign currency assets to P257.26 billion of the pension fund manager wiped out the four percent decline in peso-denominated investments to P633.31 billion.
Likewise, its equity investments jumped by more than four-fold to P69.58 billion, while infrastructure assets went up by over half to P26.34 billion.
It also tripled its short-term deposits in foreign currencies to P22.17 billion, from P6.6 billion. This despite the four percent decline in only fixed-income assets to P139.17 billion that accounted for the bulk of foreign currency investments… Read More
