In 2023, the GSIS generated a 33% increase in revenues to Php311.3 billion from Php234.9 billion.
This translated to a 70% surge in net income from Php66.4 billion to Php 113.3 billion, and a staggering 3,903% rise in total comprehensive income from Php3.6 billion to Php 143.4 billion compared to the prior year.
GSIS President and General Manager Wick Veloso said “GSIS remains to be strong as we continue to search for yield to boost its generation of revenue. To this end we have increased focus on alternative investment including PE and real estate.”
Despite the challenges markets faced last year, Veloso said strategic and proactive management of both our stocks and bonds portfolio resulted in a favorable rate of return for the Fund, saying “we continue to push and do our best to boost long-term profitability of the GSIS and support the overall economy. We strive to establish a diversified portfolio by securing new investment opportunities. Our risk profile has remained balanced with our fixed income having extended its average tenor to 7.8 years while maintaining average yield at 7.3% in a climate of declining rates”.
Total assets increased by 11% from Php1.5 trillion to Php1.7 trillion.
These achievements reflect astute investing practices and are expected to extend the fund’s life, ensuring the pensions of its more than 2.5 million members and pensioners.
