State pension fund wants PIC’s unlisted investments put on ice

The Government Employees Pension Fund (GEPF), which is by far the biggest source of funds for the Public Investment Corporation (PIC), could soon put a stop to further investments in unlisted companies.

SA’s biggest pension fund manages about R1.8-trillion of state workers’ funds, placing most of the money with the PIC, the largest asset manager on  the continent.

Business Day has seen a copy of a letter sent last week by GEPF principal executive officer Abel Sithole to acting PIC CEO Vuyani Hako. 

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