State-run pension fund Social Security System has earmarked P2 billion for investments this year in listed companies with relatively smaller capitalization.
“We are trying to buy a little more into small capitalization stocks.
They have good growth rates and we want to take advantage of that,” SSS president and chief executive Romulo Neri said in a chance interview.
SSS bought into similar last year, Neri said. He declined to name the companies that the state pension fund planned to invest in.
SSS last year has agreed to buy up to 10 percent of listed oil retailer Phoenix Petroleum Philippines Inc.
It has so far bought 2.83 percent of Phoenix Petroleum, or roughly 7.5 million common shares, at P5.60 apiece for P42 million, according to the petroleum dealer’s a disclosure to the Philippine Stock Exchange in November.
Neri said SSS had also bought stakes in listed remittance company iRemit Inc. and canned tuna exporter Alliance Tuna International Inc.
He said SSS had set limits in its investments. The pension fund is investing a maximum of P200 million into a listed company and will not purchase holdings that will entitle it to more than one board seat, whichever is lower.
“We have set these conditions so that our exposure will be limited,” Neri added.
Latest data available showed SSS investments reached P227.98 billion at the end of June last year, up 10.5 percent from P206.29 billion year-on-year.
The pension fund’s investments in equities reached P55.52 billion as of the first half of 2009, up from P46.13 billion on year. –Joyce Pangco Pañares, Manila Standard Today
World Day for Safety and Health at Work
“Safety and health at work every day!”
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
March – Women’s Role in History Month
April – Month of Planet Earth
Weekly Observances:
Last Week of March: Protection and Gender Fair Treatment of the Girl Child Week
Last Week of April – World Immunization Week
Daily Observances:
Mar 25 – International Day of Remembrance of the Victims of Slavery and the Transallantic Slave Trade
Mar 27– Earth Hour
Apr 21 – Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health at Work
