The investment portfolio held by the Government Service Insurance System (GSIS) grew 5.22% to P890.59 billion in 2021, with the growth propelled by foreign-currency investments in equities and infrastructure, the Department of Finance (DoF) said in a statement, citing a report from the agency.
“The growth came primarily from the GSIS’s well-positioned foreign currency denominated investments, particularly in the equities market and the infrastructure sector,” GSIS President and General Manager Rolando L. Macasaet was quoted as saying.
Peso-denominated investments fell 4.38% to P633.31 billion in 2021, while foreign currency-denominated assets grew 39.7% to P257.26 billion.
Peso cash assets held by the pension firm for civil servants rose 26% to P74.81 billion in 2021.
Investments in the domestic equity market rose 9.33% to P212.18 billion in 2021.
Peso-denominated investments in infrastructure declined 68% to P4.66 billion. This was due to the completion of some projects and the sale of an asset which yielded a P5.11-billion gain for the GSIS.
Peso-denominated fixed-income investments fell 13.4% to P341.66 billion.
Equity investments in foreign markets rose by more than four times to P69.58 billion in 2021 from P15.62 billion in 2020.
Foreign-currency denominated cash and short-term time deposits held by the GSIS more than tripled, to P22.17 billion in 2021 from P6.6 billion a year earlier.
Infrastructure assets held in foreign currencies rose 50.9% to P26.34 billion.
Foreign currency-denominated fixed-income assets declined 3.6% to P139.17 billion due to maturities and weaker valuations. - Luz Wendy T. Noble