PIC: We are not influenced by politics

Johannesburg - The government-owned Public Investment Corporation (PIC) which manages assets of over R1.4trn on behalf of public servants is not primarily guided by politics, the Business Report said on Monday.

"Investment decisions are informed by mandate fit, an assessment of potential returns, understanding of the risk and ability to manage such and the environmental, social and corporate governance (ESG) considerations," the PIC's chief investment officer Daniel Matjila told the paper.

Detractors of the corporation had expressed concern that pension contributions by public servants were being invested to achieve political objectives rather than get optimum returns, the paper reported.

Matjila said while politics could not be ignored, they were not more important than returns and risk.

The PIC is one of the largest and most successful investment managers on the continent, the Business Report stated.

Its investment portfolio was mainly in JSE-listeed companies, with four investments divisions - fixed income, dealing equities; properties, and the Isibaya, a division of the PIC that invests commercially viable local projects that have strong positive developmental impact.