Today's Labour News

newsThis news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.

GEPFBL Premium reports that the Government Employees Pension Fund (GEPF) is continuing to seek ways to diversify its returns in the wake of scandals surrounding Steinhoff, which has exposed the fund’s dependency on the local market.  

Earlier in 2018 the fund signalled its intention to alter its strategic asset allocation, which mandates the way it invests its R1.8-trillion in assets.  The fund’s principal executive officer, Abel Sithole, said the fund had begun discussing proposed changes with the Treasury, given the effect this could have in supporting economic growth and development in the country.  Presenting the fund’s annual report on Wednesday, he said:  "We have not reached finality yet, but the conversation is about diversification more broadly.  One of the areas of diversification is looking at long-term investments in international sovereign debt, as well as corporate debt.”  As at the end of March 2018, the fund had exposure of only 5.5% to foreign investments.  Sithole commented:  "Diversifying is one of the most patriotic things we can do.  We need to diversify our exposure away from the economy, but we also need to diversify our exposure to certain asset classes [including] good, available projects in the nonlisted area of the economy.  Not in get-rich-quick schemes; it needs to be done correctly."

  • Read Warren Thompson’s full original report in this regard at BL Premium (paywall access only)


Get other news reports at the SA Labour News home page