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GSIS sells stake in AirTrunk, generating P15.8 billion for pension fund

Business

GSIS sells stake in AirTrunk, generating P15.8 billion for pension fund

By Manila Bulletin

State-run Government Service Insurance System (GSIS) reported that it had generated P15.8 billion ($272 million) from the sale of its stake in AirTrunk, a leading data center operator in the Asia-Pacific region.

Wick Veloso, GSIS president and general manager, said this divestment, facilitated through the Macquarie Asia Infrastructure Fund 2 (MAIF2), boosted the pension fund’s fund, further securing retirement benefits for its over two million members.

“We have a duty to invest prudently on behalf of our millions of hardworking government employees," Veloso said in a statement on Tuesday, Jan. 28.

"Our infrastructure investments through MAM's funds have delivered excellent results, enhancing retirement security while supporting critical infrastructure,” he added.

Veloso said that the GSIS sees strong returns from its investments in infrastructure in the Philippines and around the Asian region.

With this latest cash flow and previous payouts from MAIF2, the GSIS has now recouped more than its initial investment in the fund managed by Macquarie Asset Management (MAM).

The partnership between GSIS and MAM began in 2012 with an investment in the Philippine Investment Alliance for Infrastructure (PINAI) to support local infrastructure development.

The GSIS further diversified its portfolio with investments in MAM's regional infrastructure funds in 2017 and 2021.

The GSIS maintains a balanced portfolio with 70 percent allocated to low-risk assets for stability and a strategic portion to higher-yielding infrastructure investments.

This strategy aims to drive returns, support pension fund growth, and secure the financial well-being of its members.

Related Tags

Government Service Insurance System Wick Veloso GSIS President and General manager

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