NextGen Day

The Government Service Insurance System (GSIS) keeps growing its asset base as it looks for local and international assets that would yield the highest returns.

Wick Veloso, president, and general manager of GSIS, said they aim to invest the money from the State pension fund in fixed income, loans, equities, real estate, and international infrastructure, among other things, in an interview with ANC’s Market Edge on Wednesday.

A new agreement between Veloso and its international infrastructure partners in New York is worth $300 million, or more than PHP16 billion, in infrastructure projects.

“We engage in activities all the time. There is a fund that we are able to examine, and during the assessment, they were overseen by former presidents of the World Bank and IMF (International Monetary Fund). We are aware of infrastructure spending in several nations throughout the world, including the United States,” he said.

Veloso continued, “We cannot just continue to focus locally, so it is our responsibility to be able to find these kinds of investments.”

He claimed that the state pension fund is still on the lookout for profitable local prospects like infrastructure development.

Veloso stated that GSIS anticipates that the nation will eventually acquire the technology needed to produce electronic cars (e-vehicles), citing its investment in the publicly traded mining company Nickel Asia through the purchase of shares.

“These are very important minerals and eventually, they provide an opportunity for jobs to create a lithium battery business operation and eventually evolve into an electric vehicle business,” the speaker stated.

The head of GSIS reminded the populace that investment opportunities are carefully examined before making corresponding suggestions with the research team at their disposal.

This is done, he explained, “to make sure we maximize the returns so we can enhance the benefits of our members and lengthen the Fund’s life.”

Veloso stated that in order for GSIS’s actuarial life, which is presently 32 years, to increase, the organization must increase the amount of contribution that each of its members makes. The agency, according to him, also needs to guarantee excellent investment returns.

“As far as we are concerned, we are making very good returns,” he continued.

In accordance with a recently inked agreement, GSIS will invest in global infrastructure projects in the areas of digitization, energy, and transportation.

GIP, a top worldwide independent infrastructure fund manager with headquarters in New York City, was established in 2006 and currently manages USD 87 billion in assets on behalf of its investor base.

It aims to make investments in the management of waste, water distribution and treatment, air transportation infrastructure, seaports, freight trains, and natural resource and utility infrastructure.

To implement infrastructure upgrades, the company collaborates with stakeholders and co-investors from the public sector. As the largest owner of private airports, GIP has notably solidified its position as the top British airport operator by converting Scotland’s Edinburg airport, London’s City and Gatwick airports, and the latter into incredibly lucrative and luxurious terminals.

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