State-owned asset manager Public Investment Corporation (PIC) is withdrawing R146billion from five private sector fund managers to manage them in-house, its chief executive Brian Molefe was quoted as saying in Business Day yesterday.
State-owned asset manager Public Investment Corporation (PIC) is withdrawing R146billion from five private sector fund managers to manage them in-house, its chief executive Brian Molefe was quoted as saying in Business Day yesterday.
The move comes after PIC last year pulled R22billion from the same fund managers, which includes Old Mutual Asset Management, Sanlam Investment Management, Stanlib and RMB Asset Management. - Reuters