Question NW1473 to the Minister of Finance
17 June 2016 - NW1473
Maynier, Mr D to ask the Minister of Finance
(1)What was the impact on the value of assets under the management of each of the portfolios of the clients of the Public Investment Corporation (PIC) due to the so-called 9/12 events that started with the removal of the former Minister of Finance, Mr Nhlanhla M Nene (details furnished); (2) whether the PIC has since recovered any losses incurred as a result of the specified events; if not, why not; if so, what are the relevant details?
Reply:
According to the Public Investment Corporation (PIC):
1. The total decrease in Asset under Management (AuM) over the period 08 December 2015 to 12 December 2015 amounted to R99, 107,867,476.76.
Table 1 below provides detailed information as per Client.
Table 1: Assets under Management per Client:
|
GOVERNMENT EMPLOYEE PENSION FUND |
||||
|
Start date |
End date |
End Market Value (Rands) |
Change in Rands |
Change in Percentage |
|
2015/12/08 |
2015/12/09 |
1 578 842 958 575,68 |
||
|
2015/12/09 |
2015/12/10 |
1 533 030 433 903,16 |
-45 812 524 672,52 |
-0,03 |
|
2015/12/10 |
2015/12/11 |
1 492 840 656 310,47 |
-40 189 777 592,69 |
-0,03 |
|
2015/12/11 |
2015/12/12 |
1 492 952 420 399,11 |
111 764 088,64 |
0,00 |
|
2015/12/12 |
2015/12/13 |
1 492 954 477 051,57 |
2 056 652,46 |
0,00 |
|
UNEMPLOYMENT INSURANCE FUND |
||||
|
Start date |
End date |
End Market Value (Rands) |
Change in Rands |
Change in Percentage |
|
2015/12/08 |
2015/12/09 |
118 539 328 931,11 |
||
|
2015/12/09 |
2015/12/10 |
113 622 850 706,82 |
-4 916 478 224,29 |
-0,04 |
|
2015/12/10 |
2015/12/11 |
110 538 549 728,88 |
-3 084 300 977,94 |
-0,03 |
|
2015/12/11 |
2015/12/12 |
110 553 868 800,92 |
15 319 072,04 |
0,00 |
|
2015/12/12 |
2015/12/13 |
110 555 818 779,42 |
1 949 978,50 |
0,00 |
|
COMPENSATION COMMISSIONER FUND |
||||
|
Start date |
End date |
End Market Value (Rands) |
Change in Rands |
Change in Percentage |
|
2015/12/08 |
2015/12/09 |
34 722 690 994,32 |
||
|
2015/12/09 |
2015/12/10 |
32 550 500 181,82 |
-2 172 190 812,50 |
-0,06 |
|
2015/12/10 |
2015/12/11 |
31 615 296 174,48 |
-935 204 007,34 |
-0,03 |
|
2015/12/11 |
2015/12/12 |
31 627 883 140,02 |
12 586 965,54 |
0,00 |
|
2015/12/12 |
2015/12/13 |
31 628 048 616,55 |
165 476,53 |
0,00 |
|
COMPENSATION COMMISSIONERS PENSION FUND |
||||
|
Start date |
End date |
End Market Value (Rands) |
Change in Rands |
Change in Percentage |
|
2015/12/08 |
2015/12/09 |
16 943 272 754,78 |
||
|
2015/12/09 |
2015/12/10 |
16 271 781 984,86 |
-671 490 769,92 |
-0,04 |
|
2015/12/10 |
2015/12/11 |
15 809 698 426,57 |
-462 083 558,29 |
-0,03 |
|
2015/12/11 |
2015/12/12 |
15 811 843 053,26 |
2 144 626,69 |
0,00 |
|
2015/12/12 |
2015/12/13 |
15 812 007 764,12 |
164 710,86 |
0,00 |
|
ASSOCIATED INSTITUTIONS PENSION FUND |
||||
|
Start date |
End date |
End Market Value (Rands) |
Change in Rands |
Change in Percentage |
|
2015/12/08 |
2015/12/09 |
14 106 965 858,19 |
||
|
2015/12/09 |
2015/12/10 |
13 361 805 139,24 |
-745 160 718,95 |
-0,05 |
|
2015/12/10 |
2015/12/11 |
13 055 814 127,87 |
-305 991 011,37 |
-0,02 |
|
2015/12/11 |
2015/12/12 |
13 059 366 371,64 |
3 552 243,77 |
0,00 |
|
2015/12/12 |
2015/12/13 |
13 059 853 104,81 |
486 733,17 |
0,00 |
|
PIC FUNDS UNDER MANAGEMENT |
||||
|
Start date |
End date |
End Market Value (Rands) |
Change in Rands |
Change in Percentage |
|
2015/12/08 |
2015/12/09 |
1 791 426 488 177,86 |
||
|
2015/12/09 |
2015/12/10 |
1 737 191 207 615,39 |
-54 235 280 562,47 |
-0,03 |
|
2015/12/10 |
2015/12/11 |
1 692 157 213 606,73 |
-45 033 994 008,66 |
-0,03 |
|
2015/12/11 |
2015/12/12 |
1 692 309 150 164,43 |
151 936 557,70 |
0,00 |
|
2015/12/12 |
2015/12/13 |
1 692 318 620 701,10 |
9 470 536,67 |
0,00 |
2. The PIC’s Portfolios have since recovered from the December 2015 decline.