GMA News Online

GSIS investing $5B in global, local instruments

January 25, 2008 1:07pm
State-run pension fund Government Service Insurance System on Friday announced that it will be investing a total of $5 billion in fixed income, equities and properties here and abroad.

GSIS president and general manager Winston Garcia, also told reporters that the pension fund is initially investing $1 billion this year in global markets, and another $1 billion locally.

The investment will be split in half between fixed income and equities and properties.

“The GSIS is looking for some strategic investments locally after disposing of our San Miguel shares worth about P14 billion," Garcia said at the sidelines of the Investment Management Agreement signing between GSIS, Credit Agricole Asset Management and ING Investment Management.

Despite the volatlity in the global markets, Garcia said the GSIS thinks it is wise to grab the opportunity when everything is “starting very low." - Cheryl Arcibal, GMANews.TV
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