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
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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