The Public Investment Corporation (PIC) insisted on Wednesday that it supported transparency in the disclosure of its investments.
It noted that for the past two years it had made public the details of its unlisted investment portfolio.
The comment came in relation to the Public Investment Corporation Amendment Bill which is currently before Parliament’s finance committee. The PIC and the Government Employees Pension Fund have indicated that they do not support a provision in the bill that would compel the annual disclosure of the PIC’s listed and unlisted investments.
The GEPF told the committee on Tuesday that the assets managed by the PIC were owned by the GEPF and could be disclosed only with the fund’s consent.
In a statement, the PIC head of corporate affairs Deon Botha said the PIC believed that disclosure of information "should be made after the unlisted investments have gone through the valuation process, the clients have signed off on the valuations and consent to publish details of these investments has been granted by the client.
"Furthermore, the PIC is of the view that the tabling of details of its unlisted investment portfolio in Parliament should be done after all its clients have tabled their annual reports in Parliament.
"The PIC will continue, as it has always done in the past two years, to make public details regarding its unlisted investment portfolio after the client has signed off the valuations and granted consent."
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