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EPPF Principal Officer, Abrahams discusses investment strategy amid COVID-19
The Eskom Pension and Provident Fund has appointment Shafeeq Abrahams as the new Chief Executive and Principal Officer, replacing Linda Mateza in the role. Abrahams had been the Fund's Chief Financial Officer since 2018. Joining CNBC Africa to discuss the task ahead in his new role is Shafeeq Abrahams.
Tue, 06 Apr 2021 15:58:33 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
- Strengthening relationships with Fund members and ensuring adequate investment returns are top priorities for Abrahams
- Emphasis on a liability-driven investment strategy and long-term positions to achieve sustainable returns
- Focus on diversification, real assets, and private equity, while cautiously considering cryptocurrency and supporting infrastructure investments in South Africa
The Eskom Pension and Provident Fund recently appointed Shafeeq Abrahams as the new Chief Executive and Principal Officer, ushering in a new era of leadership as he steps into the role previously held by Linda Mateza. Abrahams, who has been with the Fund as Chief Financial Officer since 2018, faces the monumental task of navigating the fund's investment strategy amid the ongoing challenges brought about by the COVID-19 pandemic. In a recent interview with CNBC Africa, Abrahams shed light on his vision for the future of the fund and the key strategies he plans to implement to ensure sustainable growth and maximum returns for members. One of the primary goals Abrahams outlined was the need to strengthen the Fund's relationships with its members, emphasizing the importance of communication and engagement. He highlighted the critical role that investment performance plays in meeting the Fund's obligations to its members, stressing the need for adequate returns to support pension payouts. Abrahams also delved into the Fund's investment strategy, which is centered around a liability-driven approach and long-term investment positions. He shared that the Fund is focused on achieving returns over a 10-year horizon and highlighted positive returns in the short term. However, Abrahams emphasized the importance of maintaining discipline and executing the investment strategy diligently to ensure long-term success. Furthermore, Abrahams addressed the impact of COVID-19 on the Fund's investment decisions, noting the importance of diversification across asset classes and the focus on real assets and private equity. He expressed optimism about certain sectors of the South African economy, such as property, and emphasized the Fund's commitment to identifying investment opportunities that offer long-term value. When questioned about the Fund's stance on cryptocurrency, Abrahams stated that it is not currently part of the portfolio but acknowledged the need to explore it further as the landscape evolves. He pointed out that regulatory considerations, risk assessment, and a thorough understanding of cryptocurrency are critical factors that will shape any potential investment decisions in the future. In terms of South Africa's recovery and reconstruction plan, Abrahams highlighted the Fund's support for infrastructure investments and underscored the importance of identifying viable projects and managing risk effectively. He stressed the need for public-private partnerships and policy certainty to drive the success of infrastructure projects in the country. Looking ahead, Abrahams expressed optimism about South Africa's economic growth prospects but underscored the importance of policy stability and long-term planning. He emphasized the role of renewable energy and infrastructure projects in driving growth and called for a collaborative approach to achieve sustainable development. As Abrahams embarks on his new role as Principal Officer, he outlined his commitment to improving the Fund's operational efficiency, enhancing returns, and prioritizing member satisfaction. While acknowledging the challenges and uncertainties that lie ahead, Abrahams expressed confidence in his ability to steer the Fund towards sustained growth and success. With a focus on creating a lasting impact and grooming future leaders within the organization, Abrahams aims to leave a legacy of progress and innovation during his term.
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