Public Investment Corporation reports growth of 8.9%

The PIC, which manages funds on behalf of public sector entities, tabled its integrated annual report for the 2021/22 financial year on Wednesday

The PIC’s portfolio is made up of the following assets: Listed Investments , comprising listed equities, bonds, cash and money markets and listed properties; Unlisted Investments , which is made up of private equity, impact investing and unlisted properties; and Offshore and Rest of Africa Investments , made up of global listed equities, global listed bonds, Africa-listed investments and Africa-unlisted investments.

The portfolio value decreased by 7.79% to R75.15 billion due to impairments raised during the financial year. Disbursements for the year decreased by 60.52% to R2.25 billion compared to the previous year, said the PIC. The target of developmental investments for South Africa is between R300 million and R500 million per entity although attractive investments starting at R100 million will be considered per entity.

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