Africa’s Largest Pension Fund to Invest Globally, Reuters Says

South Africa’s Government Employees’ Pension Fund may invest about $22 billion of the $150 billion it manages outside of the country, Reuters reported, citing actuarial head John Oliphant.

The fund plans to invest 9 percent of its assets in global markets, particularly emerging markets, with 5 percent in Africa outside of South Africa, the news agency cited Oliphant as saying. It is also considering direct commodity investments as infrastructure growth makes industrial metals including iron ore and copper more attractive, he said.

Stephen Gunnion in Johannesburg at +27-11-286-1936 or sgunnion@bloomberg.net

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