GIPF shows 2nd quarter investment strength

06 Aug 2013 09:00


The Government Institution Fund (GIPF) has announced its investment performance for this year's second quarter, which ended in June.
Between January and June, the Fund returned 7.23% against a benchmark of 6.85%, providing an outperformance of 0.36%. Its market value at the end of June had totaled to N$63.425b.
According to the CEO David Nujoma, the Fund has remained resilient against the global economic slowdown. He has attributed the Fund's outperformance to its strategy of changing into a specialist structure rather than maintaining balanced portfolios.
" In our view, the Fund outperformed its peers, especially those with a balanced manager’s approach,’’ said Nujoma today.
The return, he added, was exceptional considering the volatility of the market during the quarter under review. However, he warned, the Fund’s performance over a single quarter does not necessarily indicate performance levels over a long-term period.
By the end of this quarter, the Fund had committed N$2.3b towards its unlisted investment portfolio and over N$679m into various projects countrywide. It had, for instance, committed N$148m into the procurement fund and N$51m into the renewable energy linked initiative through the provision of credit financing to small to medium enterprises (SMEs) participating in the area.
The company will be holding a campaign to market and brand its already popular unlisted investment policy.