Public Investment Corporation SOC Ltd (PIC)
|Postal||Private Bag X187, Pretoria, 0001|
|Physical||Menlyn Maine Central Square, Cnr Aramist Avenue & Corobay Avenue, Waterkloof Glen Extension 2, Pretoria|
|Tel||012 742 3400|
|Fax||012 346 3276|
OverviewThe Public Investment Corporation (PIC) is a state-owned asset management firm that invests across various sectors of the economy. PIC’s clients are mostly public sector entities. It has exposure to such asset classes as listed equities, bonds, real estate, private equity and developmental investments. The majority of its investments are in South Africa, but PIC now has a mandate to invest within the rest of the African continent and globally. Established in 1911 as Public Debt Commissioners, the PIC became corporatised on 1 April 2005, following the promulgation of the Public Investment Corporation Act 23 of 2004 (PIC Act).
As a financial services provider, registered with the Financial Services Board (FSB), PIC's investment activities are governed by the Financial Advisory and Intermediary Services Act 37 of 2002 (FAIS Act). In terms of financial management and accountability, the PIC is regulated by the PIC Act, the Public Finance Management Act 1 of 1999 (PFMA), the Companies Act 71 of 2008, the Prevention of Organised Crime Act 121 of 1998 and also adheres to the provisions of the Financial Intelligence Centre Act 38 of 2001 (FICA).
Some of PIC’s clients include the Government Employees, Unemployment Insurance Fund, Associated Institutions Pension Fund, Compensation Commissioner Pension Fund and Compensation Commissioner Fund. The PIC’s objective focus is to invest for inclusive growth, for the benefit of all its stakeholders.