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Government Institutions Pension Fund

PRI reporting framework 2020

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Basic information

OO 01. Signatory category and services

01.1. Select the type that best describes your organisation or the services you provide.

01.3. Additional information. [Optional]

The Government Institutions Pension Fund "GIPF" is a defined benefit fund that is governed by the Pension Funds Act, Act 24 of 1956. It's a private pension fund of which the largest stakeholder is the Government of the Republic of Namibia (Public Service).

OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

Namibia

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

246 FTE

02.4. Additional information. [Optional]

OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/03/2020

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.5. Additional information. [Optional]

The AUM indicated above is that as at 31 January 2020 (which is the latest figure).

OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity <10% 1.37 >50% 65.34
Fixed income <10% 7.38 10-50% 13.09
Private equity <10% 0.4 <10% 5.37
Property 0 0 <10% 4.9
Infrastructure 0 0 <10% 0.28
Commodities 0 0 0 0
Hedge funds 0 0 0 0
Fund of hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash <10% 0.79 <10% 1.05
Money market instruments 0 0 0 0
Other (1), specify 0 0 0 0
Other (2), specify 0 0 0 0

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]

OO 07. Fixed income AUM breakdown (Private)

OO 08. Segregated mandates or pooled funds (Private)

OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

28.52 Developed Markets
2.55 Emerging Markets
0 Frontier Markets
68.9 Other Markets
Total 100% 99.97%

09.2. Additional information. [Optional]

As at 31 January 2020

International/ Developed Markets = 28.5%

Emerging Markets (Africa, South Africa and Namibia) = 71.5%

The Namibian Domestic Asset requirements as per 31 March 2019 require the pension funds to have no less than 45% invested in Namibia. The previous requirement as at 31 December 2018 was 42.5%, whilst the requirement around 1 year ago was 35% as at 31 March 2018. The GIPF has applied for exemption of this regulatory requirement however the regulator has allowed that the Fund meet to the requirement of 42.5% by 31 March 2020. The Fund is realigning the investments to adhere to this requirement.
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