GSIS investment portfolio expands to P891 billion in 2021

MANILA, Philippines — State-run Government Service Insurance System (GSIS) has beefed up its investment book to P891 billion by growing its share in the equities and infrastructure markets in foreign currencies.

GSIS president and general manager Rolando Macasaet said that the provident fund’s investment portfolio widened by more than five percent to P890.59 billion last year from P846.4 billion in 2020.

Macasaet reported that GSIS grew its investment book last year due to its new placements in equity and infrastructure resources in foreign currencies.

The 40 percent jump in foreign currency assets to P257.26 billion of the pension fund manager wiped out the four percent decline in peso-denominated investments to P633.31 billion.

Likewise, its equity investments jumped by more than four-fold to P69.58 billion, while infrastructure assets went up by over half to P26.34 billion.

It also tripled its short-term deposits in foreign currencies to P22.17 billion, from P6.6 billion. This despite the four percent decline in only fixed-income assets to P139.17 billion that accounted for the bulk of foreign currency investments.

On peso-denominated investments, Macasaet said fixed-income assets declined by 13 percent to P341.66 billion from P394.34 billion.

On the other hand, equity investments recorded a nine percent growth to P212.18 billion, while cash assets jumped by 26 percent to P74.81 billion.

According to Macasaet, the infrastructure investments of GSIS fell by 68 percent to P4.66 billion due to the completion of some projects that brought P5.11 billion in gains for the GSIS.

Finance Secretary Carlos Dominguez said GSIS members would benefit from the expansion of its GSIS...investment portfolio.

Dominguez pointed out that firming up the provident fund for government workers would allow it to institute new programs, among others.

For instance, GSIS launched the multipurpose loan last year waiving charges on all in-default debts of borrowers.

It also initiated a loan program extending P30,000 for the purchase of a computer that members can use for remote work during the pandemic.

GSIS also opened a financial assistance program that provides kin of members with the opportunity to study now and pay later.

Likewise, it introduced the lease with option to buy program to save families with foreclosed accounts from being ejected from their houses, offering them with monthly fee for rent below the monthly amortization for installment.