SSS Makes First Overseas Investment with $200,000 in US Treasuries
The Philippines' Social Security System (SSS) has completed its first-ever foreign investment by allocating $200,000 to US government Treasuries. Newly appointed President and CEO Victor Limlingan plans to increase the pension fund's offshore allocation to as much as 5% of its investment reserve fund (IRF) by 2027.
Read up to 3 eligible full articles per Japan day (JST) for free
Create a free account to open up to 3 eligible full articles per Japan calendar day (JST). Headlines and summaries remain available across ASEAN 7.
Related articles
- Puerto Princesa Eyes MICE Market Growth with Mega Convention Center Development
Puerto Princesa City is seeking private investment to develop an integrated MICE district, centered around a convention center capable of hosting up to 20,000 people. The city aims to transform the over 500-hectare Santa Lucia Environmental Estate into a prime investment destination to boost tourism and economic activity.
- SBMA, Subic EnerZone Extend Power Pact for 25 Years
The Subic Bay Metropolitan Authority (SBMA) has renewed its power distribution partnership with AboitizPower-led Subic EnerZone Corporation for another 25 years. This extension ensures Subic EnerZone's continued management of the special economic zone's power distribution system, which it has overseen since 2003.
- Philippine Peso Hits New Record Low Against US Dollar
The Philippine peso hit a fresh record low against the US dollar on Friday, closing at 63.615 to the dollar. The local currency's slide was exacerbated by domestic inflation concerns, capping a difficult week ahead of the US Federal Reserve's next policy meeting.
- BSP May Not Be Done Hiking Rates as Inflation Risks Mount
Analysts suggest the Bangko Sentral ng Pilipinas (BSP) may implement further interest rate hikes to combat persistent high inflation, a move that could alter how Filipinos spend, save, and invest.