GIPF allocates over N$ 9 billion to unlisted investment managers

• By Confidente reporter

GOVERNMENT Institution Pension Fund (GIPF) says its institutional asset base grew by 8.6 percent to N$147.9 billion during the 2022 financial year.

These statistics are contained in the institution’s annual reported which was released in December 2022, where, GIPF’s investment return increased by 26 percent to N$ 27. 9 billion, compared to 10.8 percent (N billion) in 2021.

During the financial period ending March 31, 2022, N$109.2 billion in investment was managed by Investment Managers, while N$1.9 billion was deposited as direct investment and N$35.9 billion was part of the GIPF Treasury Portfolio.

During the period under review, the fund’s local investment increased from 46 per cent in 2021 to 52 per cent in 2022, while investments in South African was decreased from 19 percent in 2021 to 17 per cent in 2022.

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“The increase is attributed mainly to favorable investment returns during the period under review,” reads the report.

The fund also made investments on the Africa continent which accounted for four percent, while 22 percent was invested in global markets and five percent in emerging markets.

“We remain committed to supporting local markets by investing in viable corporate bonds when they become available, the domestic market is shallow, with limited investment products and issuers.

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The bulk of the Fund’s exposure to domestic bonds is, as a result, invested in Namibian Government bonds,” reads the report.

In total, GIPF availed N$9.2 billion to local unlisted investment managers for the financial year under review, of which N$5.3 billion has been already invested, with renewable projects receiving the biggest part of the fund at the tune of N.

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7 billion.

The report indicates that a total of N$1.5 billion was allocated to mortgage financing while affordable housing received N$1.38 billion, an increase from N$1.3 billion allocated in the previous financial year.

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