Image via WikipediaState-run Social Security System (SSS) said Thursday that it plans to boost its investment in the equities market as the pension fund is looking at increasing its holdings in power and mining.
Emilio de Quiros Jr., SSS president and chief executive said the agency will raise its equity holdings from the current 21 percent, adding that its charter allows them to invest up to 30 percent of its entire investable fund in stocks.
De Quiros cited that SSS, which provides benefits to Philippine private sector workers, has roughly P286 billion worth of investable fund.
If SSS board decides to raise its publicly listed stocks holdings to 30 percent, it would mean additional P20 billion in placement.
Analysts said the Philippine Stock Exchange index (PSEi) may reach the 5,000 level this year amid strong investor confidence.
De Quiros earlier said that the pension fund is planning to increase its revenues from contributions.
http://mb.com.ph/articles/325886/sss-increase-equity-portfolio
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