The CEO of Landbank—which is mandated to contribute P50 billion to set up Maharlika Investment Corp.—is confident that the new law creating the much-debated sovereign wealth fund contains enough safeguards to protect the Filipino people’s money.
Asked whether she’s happy with the way Congress has structured the fund, Ortiz said, “I think a lot of safeguards have been put in place.”
Asked whether Landbank will divert part of its government securities portfolio investment to put up Maharlika Investment Corp., Ortiz said, “Cash is fungible, as you know. We do have liquidity that we will allocate for this investment.” According to the law, the objective of MIF is to “promote socioeconomic development,” which will be achieved by “making strategic and profitable investments in key sectors to preserve and enhance long-term value of the fund.”It also aims to obtain “optimal absolute” return and “achievable financial gains” as well as to “satisfy the requirements of liquidity, safety/security and yield in order to ensure profitability.
“For the Maharlika Investment Corp. and for the fund itself, it will have to assess the most viable investment based on a risk/return criteria. What’s important and critical will be the team installed to run the fund and the appropriate portfolio allocation and strategy that they will establish,” she said.
While the national government and certain government financial institutions like Landbank will put up the initial capital of Maharlika Investment Corp., Ortiz said the fund could eventually source external equity like the Indonesian and Malaysian sovereign wealth fund models. She noted that Singapore’s Temasek, on the other hand, also goes to the market to offer bonds.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Musk says fight with Zuckerberg will be live-streamed on XElon Musk said in a social media post that his proposed cage fight with Meta CEO Mark Zuckerberg would be live-streamed on social media platform X, formerly known as Twitter.
Read more »
Musk says his cage fight with Zuckerberg will stream on XWASHINGTON, United States -- Elon Musk said Sunday that the 'cage match' he and Meta CEO Mark Zuckerberg have seemingly agreed to as a fund-raiser will be carried live on X, formerly known as Twitter, which he owns.
Read more »
Cristy Fermin ibinunyag na ama ni James Reid ang nagpaaresto kay Jeffrey Oh, paano na kaya ang Hollywood dream ni Liza Soberano?FOLLOW-UP ito sa nasulat namin dito sa BANDERA tungkol kay Jeffrey Oh, Chief Executive Officer o CEO ng talent management na Careless na nagma-manage ng career ng aktres na si Liza Soberano at business partner ng singer-actor na si James Reid. Base sa aming source ay kasalukuyan pa rin itong nakapiit sa Bureau of Immigration […]
Read more »
Pimentel on proposed P10.142B confi, intel funds: 'A huge mistake'Senate Minority Leader Koko Pimentel on Saturday raised "serious concerns" over the proposed P10.142 billion in confidential and intelligence funds (CIF) in the National Expenditure Program (NEP) for 2024.
Read more »
Jordan Clarkson ‘not coming in cold’ in Gilas' World Cup buildupGilas Pilipinas expects Jordan Clarkson to be ’in pretty good shape’ when the Fil-Am NBA player joins the national team’s World Cup training next week.
Read more »
'Lifetime Rate' on cheap electricity for needy families starts in Sept.The Marcos Administration will roll out next month the Lifeline Rate program, which aims to benefit qualified low-income households to help them pay their electricity bills, the Presidential Communications Office (PCO) said. READ:
Read more »