GIPF to invest in local infrastructure

30 Oct 2018 17:40pm
WINDHOEK, 30 OCT (NAMPA) – The Government Institutions Pension Fund (GIPF) plans to invest in infrastructure in the country, its Chief Executive Officer, David Nuyoma announced on Tuesday.
Speaking at media conference here, Nuyoma said as a long-term investor, GIPF was willing to participate in long-term infrastructure projects and thus would invest in those that would give it good yields.
He said if the fund identifies attractive assets locally that match its liabilities, it would invest in them.
Nuyoma further explained that with regard to the diversification of assets, the manner in which the assets of pension funds are allocated are prescribed by the Pension Funds Act.
The framework requires that about 40 per cent of assets, as of 31 August 2018, be invested in Namibia; 42 per cent at the end of November this year; and 45 per cent at the end of March 2019.
“These are minimums. If we see a compelling case for us to invest more locally and we see attractive assets that can match our liability, we will happily do so,” Nuyoma said.
“We have applied through the relevant authorities to have our local asset allocation in respect of unlisted investments, as you know, we have a limit of 3,5 per cent.”
If the GIPF is able to participate in infrastructure, it would have to increase that to at least five or seven per cent, he said.