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By Karl Angelo N. Vidal Reporter
THE GOVERNMENT Service Assurance Service (GSIS) evaluates the external asset managers who have applied to manage $ 800 million worth of its investments – a move to diversify its funds.
"We are reviewing the CVs of the external fund managers, we want to make sure that they are really qualified, and we need to be able to trust them," said GSIC President and CEO Jesus Clint. O. Aranas, at a press conference Wednesday. "We are now in the evaluation phase, we are assessing which fund managers will qualify our scorecard [based on]."
The state pension fund said that more than 40 managers of funds have applied for the trust fund and will hire two outside firms for $ 400 million each.
" Napaka -stringent ng scorecard ] namin (Our dashboard is very strict) by evaluating these managers. Mr. Aranas said: [TRADUCTION]
Qualifications for wealth managers of the pension fund include proven track record, global presence and at least ten years' experience in the capital markets. He added that the GSIS wants to invest $ 800 million in foreign exchange instruments to diversify its asset portfolio.
"We have adapted the multi-asset strategy, which is the global trend, we do not want to put our eggs in the local basket all the time so that if it corrects, our funds will not be affected so much," he said. Mr. Aranas in a mixture of Filipino and English.
his search for external managers from here a month until April 13 because he wanted to receive more candidates.
In November 2017, 62% of the assets of the pension fund were invested in financial assets, 24% in loans to its members, 6% Apart from this, Mr. Aranas declared that the pension fund will incur at least 300 millions of dollars in a vehicle fund to finance private infrastructure projects in the real estate sector. Asia.
"The fund we have invested in is only a commitment at this stage. Nag-umpisa pa lang . (It just started)," explained Gracita Gilda V. Bocanegra, Vice President of GSIS. "It's called Macquarie Asia Infrastructure Fund and is committed to investing in infrastructure assets in Asia."
She stated that GSIS has engaged with other foreign investors, raising a pool of funds amounting to more than $ 3 billion. The alliance is managed by the global asset manager Macquarie Infrastructure and Real Assets, while investors include the Asian Development Bank, Algemene Pensione Groep (APG) of the Netherlands and the Macquarie Group.
At the end of 2017, Ms. Bocanegra said the fund was almost fully deployed.
Like its $ 800 million multi-asset investment program, Bocanegra said the move seeks to diversify the GSIS portfolio.
"The fund seeks to diversify.As the same principle, we do not want them to invest all in the Philippines.We want them to invest also in other countries," said Ms. Bocanegra, adding that part of the fund will go to the Philippines to fund infrastructure projects.
Currently, the actuarial life of the pension fund is at least 35 years old, Aranas said.
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