News Formal

Government Employees Pension Fund was 'misled' about R4.3bn investment

  • 📰 TimesLIVE
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 59%

日本 ニュース ニュース

日本 最新ニュース,日本 見出し

The fund that looks after the pensions of 1.7 million current and former public servants was misled by the Public Investment Corporation (PIC) in respect of its R4.3bn investment in Ayo Technology Solutions, an inquiry into the state-owned asset manager heard on Monday.

Abel Sithole, the principal executive officer of the GEPF since April 2015, told the inquiry on Monday the PIC"did not involve nor inform the GEPF when it considered and made the investment in Ayo. It did not highlight this investment in its subsequent reporting to the GEPF."

"The PIC in its subsequent reporting to the GEPF contended that they considered that the Ayo investment fell under the 'listed' investment mandate." In the context of the Ayo transaction, Sithole believed Ayo should have been categorised as an unlisted investment.

このニュースをすぐに読めるように要約しました。ニュースに興味がある場合は、ここで全文を読むことができます。 続きを読む:

 /  🏆 28. in JP
 

コメントありがとうございます。コメントは審査後に公開されます。

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

Tegeta withdraws application to liquidate Gupta family’s Oakbay InvestmentThe matter is awaiting judgment but the parties have now settled outside of court
ソース: BDliveSA - 🏆 12. / 63 続きを読む »

Tegeta withdraws application to liquidate Gupta family’s Oakbay InvestmentThe matter is awaiting judgment but the parties have now settled outside of court What does it really mean? Money is gone.
ソース: BDliveSA - 🏆 12. / 63 続きを読む »