The Social Security System (SSS) is seeking to raise investments by around $470 million in local equities, Reuters reports. The Philippine pension fund will specifically focus on energy stocks, the allocation for which can be up to 30% of its funds, adds Business Inquirer.
The fund will acquire stakes in energy firms in their initial public offerings. The net revenue of the fund is expected to outrun its target of $374.26 million this year. The fund’s net revenue last year was $514.52 million.
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