The Public Investment Corporation, or PIC, is the asset management company for GEPF and invests funds on our behalf.
PIC is wholly owned by the South African government and is the only asset manager that serves South Africa’s public sector. It takes care of the investment needs of about 35 public sector pension, provident, social security, development and guardian funds.
GEPF is the PIC’s largest client. As at 31 March 2009, the corporation was managing GEPF assets worth R639 billion, which was 89 percent of all assets being managed by PIC.
PIC is registered with the Financial Services Board (FSB) as a financial services provider and is required to follow FSB-approved client investment mandates when investing funds. The corporation’s annual financial statements are audited by the Auditor-General of South Africa.