PIC staff warn of executives causing an ‘existential crisis’
Letter sets out list of complaints and concerns
12 May 2021 - 06:08
Senior employees at a unit of the Public Investment Corporation (PIC) have accused executives at the fund manager of causing an “existential crisis” after a series of scandals in recent years.
Staff at the Isibaya Fund, which oversees unlisted assets at the R1.91-trillion PIC, submitted a list of complaints including a failure to renew a mandate with the division’s biggest client and allegations of general poor management, according to a nine-page letter to the company’s investment committee...
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