PhilippinesÆ GSIS may outsource in near future

Offshore investment has been done before but will not happen under the current economic circumstances.

Officials at the Philippines' Government Service Insurance System, which manages Ps205 billion $3.9 billion of assets on behalf of 1.4 million member civil servants, say it is looking at outsourcing part of its investments to external fund managers.

According to Fernando Gaite, vice president in the GSIS' corporate finance accounts management department, The present management is receptive to the idea, and a decision could be nearer than expected.

Gaite would like to see parts of the investments in domestic equities and fixed-income instruments handed to third parties, including locals and foreigners with a Philippine presence, in order to compare performance and force in-house managers to become more competitive. The concept is not new, but...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222