PDSnet Glossary

Term

Categories

Introductory Technical Fundamental Economics Opinion Sectors International Regulatory Other Markets

Versions

Name	synonyms = 1, variations = 2, abbreviations = 3

Publish: (0 = no, 1 = yes)

Definition

The Public Investment Corporation (PIC) manages the largest fund in South Africa which is the pensions contributions of the millions of public servants in this country. It is also the largest asset manager on the African continent. At the end of September 2024 the PIC had over R3 trillion under management almost 90% of which came from the Government Employees Pension Fund (GEPF). The PIC benefited directly from the rise in the share market as a result of the appointment of the new government of national unity (GNU) in June 2024. You can see the major shareholders for each listed share in your software, and usually one of the largest shareholders will be the Government Employees Pension Fund (GEPF) which is an investment of the PIC made on behalf of the civil servants. For example, Standard Bank is owned 14,5% by the GEPF and Bidvest is owned 20,62% by them. The PIC generally keeps more than R100bn in cash.

Edit Glossary Term