Tuesday, 22 December, 2020 - 14:19
Most Pacific-based funds have maintained a long-term investment focus as they look beyond the immediate impacts from the COVID-19 pandemic and overcome initial concerns about short-term losses, according to a new survey.
The survey by the International Finance Corporation (IFC), a member of the World Bank Group, and the Pacific Islands Investment Forum (PIIF) of PIIF members - sovereign, superannuation, provident and trust funds across the Pacific - showed they have been stepping up with vital support for financial systems in Pacific countries. These efforts include providing social protection and other financial support, complementing government actions.
While the economic crisis in the Pacific triggered by the global pandemic required a rapid response from funds across the region, which collectively have over $8.87 billion assets under management, the survey highlights they will continue to play a critical role in their economies. As they plan for the economic recovery, funds are now weighing options for investing in regional infrastructure, generating broader economic benefits including targeting better outcomes for the many people who are members of funds.