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GEPF outlines its investment strategy
In October, the Government Employees Pension Fund appointed Musa Mabesa as its new Principal Executive Officer. This is as Africa's largest pension fund strives to meet its obligation to protect the retirement benefits of its members and pensioners. Musa Mabesa, Principal Executive Officer of the Government Employees Pension Fund joins CNBC Africa for more.
Thu, 03 Dec 2020 16:37:10 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- Emphasis on timely benefit payments, responsible investing, and sustainability to protect retirement savings
- Focus on diversification in investments to ensure growth and mitigate risks
- Initiatives to enhance governance, strengthen oversight, and promote transformation in the asset management industry
The Government Employees Pension Fund (GEPF) recently appointed Musa Mabesa as its new Principal Executive Officer in a move aimed at solidifying the fund's commitment to protecting the retirement benefits of its members and pensioners. With assets totaling around 1.9 trillion rand as of November 2020, the fund has seen a steady recovery post-COVID-19 crash and is now focusing on ensuring timely benefit payments, responsible investments, and overall fund sustainability. In a recent interview with CNBC Africa, Moussa Mabesa discussed the fund's investment strategy and outlook for the future.
Reflecting on the fund's recovery and current asset value, Mabesa emphasized the importance of paying benefits on time to members and pensioners as the core focus of the fund. He highlighted the need for responsible investing and sustainability to ensure the growth and protection of retirement savings. Mabesa also underscored the significance of diversification in investments, with a focus on listed equity, fixed income instruments, unlisted investments, properties, and a limited exposure to investments outside South Africa.
In terms of managing assets and investment strategies, Mabesa addressed the issue of governance and risk mitigation, particularly in relation to the Public Investment Corporation (PIC) - the fund's largest asset manager. He outlined the board's initiatives to enhance governance structures, introduce robust processes, and strengthen oversight to prevent past governance failures and value destruction. Mabesa noted ongoing collaborations with the PIC and measures in place to ensure transparency and accountability in investment management.
Furthermore, Mabesa touched upon the critical issue of transformation in the asset management industry. He highlighted the fund's commitment to promoting economic empowerment and diversity by allocating a portion of assets for developmental purposes and supporting black-owned asset managers. Collaborating with the PIC and other stakeholders, the GEPF aims to drive transformation while balancing economic and social returns to achieve sustainable growth.
In conclusion, Mabesa reiterated the fund's dedication to safeguarding the interests of members and pensioners, emphasizing the importance of strategic investments, risk management, and stakeholder partnerships. As the GEPF navigates the evolving financial landscape and economic challenges, Mabesa's leadership and vision for the fund's future provide a solid foundation for sustainable growth and long-term financial security for its beneficiaries.
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