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
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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