Kenya’s Public Service Superannuation Fund (PSSF) has unveiled a new Investment Policy Statement (IPS) that departs from its traditionally conservative, fixed, income approach in favour of a more diversified and growth, oriented investment portfolio.
The new strategy will expand PSSF’s exposure to equities, offshore investments, property and alternative assets, including private equity, infrastructure and private debt.
Speaking during a roundabout on Thursday, PSSF Chief Executive Officer, Dr Jonah Aiyabei
said the strategy is informed by the Fund’s long-term outlook and youthful membership.
“With an average member age of 39 years and approximately 99.5 per cent of our members
PSSF currently allocates 78. 6 percent of the Fund to government securities, which will go down gradually to 57.5 percent.
The new strategy allows the Fund to allocate a maximum of 20 percent for listed equities, 15 percent for offshore investments, 20 percent for property, and 10 percent for alternative investments.
In addition the policy has been updated to include the Environmental, Social and Governance (ESG) criteria in the investment decision, making process, and the managers of the fund will now be required to report on the ESG issues quarterly.
