GSIS eyes more investments in mining, infrastructure

MANILA, Philippines — State-run pension fund Government Service Insurance System (GSIS) is looking to pour more of its investible funds in mining and infrastructure to get better returns for its members.

During the Laging Handa briefing on Monday, GSIS president and general manager Wick Veloso said the pension fund for government workers and retirees continues to look for investment channels for its funds.

Currently, GSIS has a total investable fund of close to P1.6 trillion.

“It is our responsibility that the growth and prosperity of these hard earned contributions are invested in those that will give us comfortable credit and will support nation-building,” Veloso said.

One of the investment channels that GSIS is looking into is mining that is not solely focused on export, but also in processing.

“We don’t want just nickel ore export, but with the strategy to do vertical integration,” Veloso said, adding that “we are also interested in nickel ore to make lithium batteries and further vertical integration to eventually manufacture electric vehicles.”

This, as the GSIS expects that the e-vehicle industry will significantly improve over the next five to 10 years.

“We would like to make sure that we take advantage of that,” Veloso said.

Just last month, GSIS bought shares in Nickel Asia Corp. as part of efforts to support the electric vehicle industry being pushed by the Marcos administration.

Further, Veloso said GSIS is also looking for infrastructure opportunities that would give the pension fund higher returns, especially overseas.

Nonetheless, the bulk of GSIS resources remains in the Philippines with nearly 50 percent invested in government securities.

Others are invested in loans, equities, properties, and cash items for liquidity purposes.

Veloso said GSIS is investing more in order to increase its services via housing loans, multipurpose loans, and medical benefits for members.