Established in 1911, the Public Investment Corporation (SOC) Limited is one of the largest investment managers in Africa today, managing assets of over R1.857 trillion and still growing.
The PIC, a registered financial services provider, is wholly owned by the South African Government, with the Minister of Finance as shareholder representative.
They invest funds on behalf of public sector entities, based on investment mandates set by each of these clients and approved by the Financial Services Board (FSB).
Their goal is to not only meet, but exceed their clients’ expectations and their shareholder’s investment objectives through thorough research, careful risk analysis and stringent compliance practices.
The PIC was corporatised on 1 April 2005 in accordance with the Public Investment Corporation Act, 2004.
Corporatisation has positioned PIC to structure its investment activities and operations in a manner comparable to that of private sector investment managers. Apart from pursuing Financial Services Board (FSB)-compliant mandates, they benchmark their investment performance against market-driven indices, enabling their clients and shareholders to compare PIC’s returns to other local market leaders.
The funds invested in are primarily pension; provident; social security and guardian funds, and investments are diversified across the following broad asset classes: Listed Equities, Capital Markets, Money Markets, Property and Isibaya Fund.
Isibaya Fund promotes investments that have a social impact and contribute to South Africa’s development goals.
Their top five clients are:
– The Government Employees Pension Fund (GEPF)
– The Unemployment Insurance Fund (UIF)
– The Associated Institutions Pension Fund (AIPF)
– The Compensation Commissioner: Pension Fund (CCPF)
– Compensation Commissioner Fund (CC).
Vision and Mission
The PIC’s vision and mission, will not only enable them to exceed their stakeholders’ expectations, but will also contribute towards the realisation of key developmental priorities of Government.
To be the leader in developmental investing for sustainable financial prosperity of their stakeholders.
To be a key player, not only in the region, but also on the African continent, who consistently delivers on client mandates through direct investing for economic transformation, robust risk management, strategic partnerships and resource mobilisation.