LETTER: Advice about Eskom pension fund is misguided
The ambition to make development investments leading to societal change is best left to professionals that have a reputation
As a pensioner member of the Eskom Pension and Provident Fund (EPPF), I am greatly disturbed at the recommendations made by employed personnel (“Institutional investors have financial might to change mindsets and investment patterns”, September 14).
The investment performance as shown on the EPPF website continues to underperform its benchmark (and hence investment objective) over all periods, a significant portion of which Ndabe Mkhize appears to have overseen. These investments were mainly in vanilla asset classes that have a long history, reasonable transaction costs and, more importantly, a level of transparency.
This ambition to make development investments lead to societal changes is best left to professionals that have a reputation, track record and function to manage change. Let the EPPF remain a retirement saving vehicle for current and past Eskom employees.
Henny le Roux
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