Swazi Observer

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PSPF ASSETS AT E22 BILLION

By Hlengiwe Ndlovu | 2018-11-18

THE Public Service Pensions Fund (PSPF) had a total asset value of E22.6 billion as at September 30.

This was voiced out by Director of Finance who is the acting CEO Fairlie Mabuza during a presentation that was made to the Minister of Public Service Christian Ntshangase yesterday at the fund’s offices.

Mabuza’s presentation revealed that the Fund’s gross income is at E2.4 billion with contributions from investments and property, while the Fund’s expenditure is at E1.3 billion servicing pension payments and admiration.

According to Mabuza funding level is at 66 per cent. With assets against liabilities, the Fund has entrusted five investment managers locally.

African Alliance handles E270 million, Stanlib manges E507 million, Inhlonhla oversees a bigger investment of E1.6 billion whilst Old Mutual handles E230 million and the Fund directly manges on its own a bigger share of E6.7 billion. The total investment made by the Fund locally is E9.3 billion which is 41 per cent of local investments.

Mabuza said the Fund’s investment stretches to outside the borders of the country with an investment of E13.2 billion sitting in South Africa, which is 59 per cent investment.

Mabuza said investments in South Africa are with Alan Gray where the Fund has E5.2 billion, Coronation E4.2 billion, Foord E1.6 billon, Sanlam E1.0 billion and Stanlib oversees E1.2 billion.

The presentation made by Mabuza was shortly followed by a tour of the nearly completed Hilton Garden Inn Hotel where the minister expressed his excitement on what the Fund is doing locally.

“To the general public, the Fund has a lot of money readily available but the presentation brought clarity in that this is an investment and we need to work hard in growing the Fund portfolio even bigger,” he said.

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