SOUTH AFRICAN STATE PENSION FUND MAY SHIFT BILLIONS OFFSHORE

South Africa’s Government Employees Pension Fund (GEPF) which is the custodian of 2 trillion Rand Pension fund on behalf of government workers may shift hundreds of billions of rand offshore as it seeks to reduce its over dependence on the local investment market. The move is aimed at growing returns on the huge fund uncorrelated with the current fortunes of the country that has gone into recession.

The GEPF Principal Officer Mr Abel Sithole said recently in an interview that they hope to put in place a new strategic asset allocation framework in coming months to guarantee commensurate returns on investment for government employees under the scheme.

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