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DAILY NEWS, Pension fund to invest in economy

DAILY NEWS (Late Final) Page 6

NIKI MOORE THE Public Investment Corp oration, Africa's largest pension fund manager, will invest in education and training projects as it switches focus to take on an increased developmental role in an effort to cut unemployment. The PIC, which manages $140.4 billion (R1 trillion) mostly for the Government Employees Pensions Fund (GEPF), wants to use its size to spur growth in South Africa, where one in four people is unemployed. “The GEPF wants to influence the economy so that the returns are within their control,” said PIC chief executive Elias Masilela. “Investment must increase efficiency and productivity and create jobs. Only then can the GEPF be guaranteed of a safe return

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