The Investment & Operations sector aims to create a balanced and diversified portfolio that generates a rate of return to achieve a long term growth for the retirement funds.
The Investment and Operation Sector is mandated to manage The Public Institution for Social Security (PIFSS) fund to achieve a return equal to the discount rate of the pension liabilities by following the Strategic Asset Allocation (SAA) of the institution for its investments, set by Cambridge Associates and approved by the Investment Committee (IC) on March, 2016.
The SAA is a five-year plan that specifies all the asset classes and their allocation, and based on the SAA, a deployment/commitment plan was created; and on September, 2017 was approved by the IC. Currently, PIFSS is undergoing another SAA with Mercer that start after Cambridge Associates’ plan is due in March 2021. In addition, the IC approved the second version of General Investment Guidelines manual on October, 2019 and November, 2019.
This manual governs the investment limits and determines the responsibilities and authorities in managing the investment portfolio of the institution. Furthermore, the investment plan assists the Chief Investment Officers of Liquid and Illiquid assets and their departments with achieving the expected returns.
The investment sector has been divided to:
- Equities
- Fixed Income
- Alternatives
The Illiquid Investment Sector consists of three departments:
- Real Estate
- Private Equity
- Infrastructure
Operations consists of three departments:
- Treasury
- Operations
- Investment Accounting
Support Departments:
- Investment Research
- Support Services
