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PIC presents annual report to Parliament

In its annual report to South Africa’s Parliament last week, Public Investment Corporation revealed that its assets under management grew by almost 13% to R1.8 trillion (approximately $131 billion) over the 2014-2015 financial year and achieved a real rate of return on its investments of 13.72%. While the lion’s share of the funds, which are invested by PIC on behalf of the Government Employees Pension Fund, the Unemployment Insurance Fund and Compensation Commissioner Fund, are committed to listed equities, the corporation is expanding its allocation to unlisted developmental investments and private equity opportunities within South Africa, the rest of Africa and other frontier markets.

Read more at Business Day…

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