State pension fund may expand foreign portfolio after Steinhoff scandals
GEPF’s principal executive officer says diversifying ‘one of the most patriotic things we can do’
The Government Employees Pension Fund (GEPF) continues to seek ways to diversify its returns in the wake of scandals surrounding Steinhoff, which has exposed the fund’s dependency on the local market.
The fund earlier in 2018 signalled its intention to alter its strategic asset allocation, which mandates the way it invests its R1.8-trillion in assets.
The fund’s principal executive officer, Abel Sithole, said the fund had begun discussing proposed changes with the Treasury, given the effect this could have in supporting economic growth and development in the country.
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