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PRIVATE EQUITY | Cesar Tordesillas, Philippines
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Philippines' GSIS to increase equities exposure

State-run GSIS plans to further increase its exposure in the Philippine equities market this year.

Robert G. Vergara, GSIS president and general manager, said that the pension fund’s exposure in Philippine shares may reach 18 percent to 19 percent of its investible funds this year from 15 percent in 2012.

Optimism on the local market is high with the country’s robust economy and an anticipation of the government’s investment grade rating.

“I think the 6,500 level will be exceeded, I will not be surprised if the market runs up to the 7,000 level this year,” Vergara said.

He said GSIS plans to increase its exposure in banks, property and the gaming sectors.

“For this year, our earnings from equities may increase by additional P12 billion at 6,500 level, P16 billion at 6,800 level and P20 billion at 7,000 level,” he said.

Currently, GSIS has P685 billion worth of investable funds as of December. Of the amount, 45 percent is in fixed-income, 30 percent in loans to members, 15 percent in equities, 5 percent in cash and 5 percent in property.

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