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Public Investment Corporation
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  • HOMECurrently selected
  • WHO WE ARE
    • About Us
    • Corporate Profile
    • Vision, Mission and Values
    • Code of Ethics
    • Our Leadership
      • Board of Directors
      • Executive Committee
    • Our Clients
  • OUR BUSINESS
    • Listed Investments
      • Listed Equities
      • Fixed Income
      • Externally Managed Funds
    • Unlisted Investments
      • Isibaya
      • Properties
  • INVESTMENT PHILOSOPHY AND APPROACH
    • Investment Philosophy
    • Investment Process
    • Risk and Compliance
    • Environmental, Social & Governance
    • Research & Insights
      • Economic Research
      • Sectoral Research
  • APPLY FOR FUNDING
    • Isibaya
    • Project Development Partnership Fund
    • Properties
  • COMPLAINTS

Ownership and Liability

  • HOMECurrently selected
  • WHO WE ARE
    • About Us
    • Corporate Profile
    • Vision, Mission and Values
    • Code of Ethics
    • Our Leadership
    • Our Clients
  • OUR BUSINESS
    • Listed Investments
    • Unlisted Investments
  • INVESTMENT PHILOSOPHY AND APPROACH
    • Investment Philosophy
    • Investment Process
    • Risk and Compliance
    • Environmental, Social & Governance
    • Research & Insights
  • APPLY FOR FUNDING
    • Isibaya
    • Project Development Partnership Fund
    • Properties
  • COMPLAINTS
Page Content
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[column 12]Although the PIC is wholly owned by the South African Government and serves the interests of the South African people, we operate in a manner that is comparable with any internationally competitive, private sector asset manager.

 
Our abilities stem from the unique legislative and regulatory framework in which we operate – a framework that is designed to deliver the best possible returns for our clients, while meeting the highest standards of corporate governance and investment accountability.  

 

Three acts of Parliament govern the operations of the PIC

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The
[link new-window title="%20Public%20Investment%20Corporation%20Act,%202004" link="/DocPub/Public-Investment-Corporation-Act-2004.pdf" /] 
, defines PIC as a government-owned Corporation that is subject to the Companies Act. This act also describes PIC’s core business, which is to provide non-banking financial services to public bodies.

 
[link new-window title="The%20Financial%20Advisory%20and%20Intermediary%20Services%20(%20FAIS)%20Act,2002" link="/DocPub/The-Financial-Advisory-and-Intermediary-Services-FAIS-Act2002.pdf" /] 
, governs the South African financial services sector. The PIC is registered as a financial services provider with the Financial Services Board, the regulator of this sector.  

 
[link new-window title="The%20Public%20Finance%20Management%20Act,%201999" link="/DocPub/The-Public-Finance-Management-Act-1999.pdf" /] 
, requires that the PIC’s annual financial statements be audited by the Auditor-General. We are therefore accountable to Parliament for our financial management. Beyond these parliamentary acts, the PIC is accountable to the millions of South Africans on whose behalf we invest.  

 
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