Mandate for PIC fund is still too flimsy

PREMIUM

A pot of R2-trillion of other people’s money is always going to attract flies.

The Mpati inquiry into the Public Investment Corporation (PIC) has tried to bulletproof the asset manager for the future as best it can. It has given guidance on a new structure for the PIC, proposed changes to investment decision-making, and provided an entirely new framework for the appointment of directors...

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