Auditor-general flags PIC’s failure to adhere to investment policies
The finding comes in the wake of the Mpati commission of inquiry's finding of impropriety at Africa's largest asset manager
12 November 2020 - 18:36
The failure of Africa’s largest asset manager to adhere to its investment policies and guidelines was highlighted in the auditor-general report on the company’s financial statements for 2019/2020.
The investment decisions of the Public Investment Corporation (PIC), which has assets under management of R1,9-trillion, came under the spotlight of the commission of inquiry chaired by former judge president of the Supreme Court of Appeal Lex Mpati...
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