GSIS eyes infrastructure investments

MANILA, Philippines —  State-run pension fund Government Service Insurance System (GSIS) plans to pour more resources into infrastructure projects in a bid to widen its investment portfolio.

In his first briefing yesterday, GSIS president and general manager Wick Veloso said there is a need to invest in projects that would provide better services for Filipinos.

Veloso said GSIS is looking for opportunities to invest in local projects to strengthen its mandate and boost its portfolio.

“In terms of infrastructure, we will scale that up – those that are going to be the drivers of growth and stability in the country,” he said.

Veloso said these plans would still be discussed with other government agencies as well as the private sector.

He said possible sectors include power, water, telecommunications, and transportation.

According to GSIS executive vice president for support services sector Dionisio Ebdane Jr., the fund has P104 billion in existing investment pool that can be tapped.

Of that P104 billion, P35 billion has been poured into a combination of private equity and infrastructure.

Ebdane said the administration would look into additional possible investments in infrastructure.

“The GSIS has been given the authority to design its own investment policy guidelines. We still have the fund and we will discuss it with the board on how to continue with this investment,” Ebdane said.

“We will discuss how we can maximize this limit that was given to us. There is a lot to consider,” he said.

Meanwhile, Veloso emphasized that GSIS would focus on the digital transformation of the agency to provide better services for its over two million members and pensioners.

He said this would be achieved by harnessing the power of information technology to give stakeholders faster, better and more convenient service.

Also included in his priorities is to ensure that all the properties and interests of the government are insured with GSIS.

Under the law, GSIS is mandated to provide insurance cover to all government assets and properties with insurable interests.