The PIC is the largest fund manager on the African continent and the only investment manager in South Africa that focuses exclusively on the public sector.
Our clients consist of 23 public bodies that operate pension, provident, social security and guardian funds. They include South Africa’s largest pension fund, the Government Employees Pension Fund (GEPF), as well as public funds critical to the country, such as the Unemployment Insurance Fund (UIF) and the Compensation Commissioner Fund.
Our largest client is the GEPF, which accounts for 87.12% of assets under management, followed by the UIF, the Compensation Commissioner Fund, the Compensation Commissioner Pension Fund and the Associated Institutions Pension Fund. The Guardian Fund and a range of smaller clients account for the remainder of PIC’s clientele.
Collectively, the assets managed on our clients’ behalf totalled R2.083 trillion as at 31 March 2018.
All investment decisions are directed by detailed client mandates, which are negotiated individually with each client in line with their investment profile and risk appetite. These client mandates comply fully with the requirements of the Financial Sector Conduct Authority (FSCA), with which the PIC is registered as an approved financial services provider.
|Clients||% of assets under management|
|Government Employees Pension Fund (GEPF)||
|Unemployment Insurance Fund (UIF)||
|Compensation Commissioner Pension Fund (CP)||
|Associated Institutions Pension Fund (AIPF)||
* Constitutes various clients with smaller portfolios.