GIPF market value soars

The market value of the investments made by the Government Institutions Pension Fund has surpassed the N$50 billion mark as at 31 March 2012, up from N$46 billion last year.
Acting CEO, Maria Dax told journalists on Tuesday that trustees of the fund were “extremely” pleased with the continued positive improvement of the GIPF’s structure, strategy and performance over the past quarter, which is not just average, but better than expected.
Dax said the market value of the fund now makes up 61% of the country’s GDP, 75% of the total market value of the investments of the financial services sector and 86% of the market value of the total investments of the pension funds industry.
“This confirms the significance of the GIPF as the country’s biggest institutional investor that must be managed properly and any mishap that could happen to the investments of GIPF could disturb the entire economy,” she said.
Dax attributed the growth in the value of the fund to members contributions, sustainable management of the fund’s benefits structure as well as markets performance over the years.
“The GIPF Trustees have taken on the responsibility to ensure that members  are seeing the value of a well thought through investment strategy across the entire fund.
“This strategy encompasses the markets we are invested in, the asset managers selected to do the job, as well as shorter term trading considerations,” Dax added.