COMPANY COMMENT: PIC trots out all its investment reasons
It seems the government employees whose pensions are in the hands of powerful fund managers have been let down badly
You have to give it to the Public Investment Corporation (PIC), it always has a good excuse, or rather explanation, for committing hundreds of millions, often billions of its beneficiaries’ rand to a company. The detailed investment schedule of unlisted investments that the PIC released in 2017, at the insistence of the DA, referred to many of these explanations.MARSHALL Monteagle is not the best-known investment company on the JSE by any stretch of the imagination. Its low-key reputation would have been enhanced by the release of interim results to end-September on December 21, when most market participants had closed up shop for the Christmas holidays. The interim numbers did at least tell an encouraging story with headline earnings from continuing business rocketing to almost $0.13/share (or 160c/ share) with another decent dividend to boot. One of the more interesting strategic investments fermenting in its portfolio is its 11.9% stake in unlisted British pub ’n grub business He...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.