Assets under management at the Public Investment Corporation (PIC) surpassed R3-trillion in the year to end-March, up from R2.7-trillion a year earlier.
Addressing parliament’s finance committee on Wednesday, CEO Abel Sithole said that over the past 10 years the PIC’s unlisted portfolio, which consists of the Isibaya Fund and a property portfolio, had grown from R82bn to R133bn by December 2024. The value of property portfolio was R54bn and the unlisted investment portfolio R79bn.
The value of the PIC’s unlisted investments remain at about 5% of the total portfolio, in line with the mandate of its clients.
Sithole said the amount the PIC would recover from its investment in state-owned poultry firm Daybreak Foods would depend on the outcome of its business rescue process.
The PIC is Africa’s biggest fund manager. Its clients include the Government Employees Pension Fund, the Unemployment Insurance Fund and the Compensation Fund.
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