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...
