The Insurance and Pension Commission (IPEC) says in the first quarter pension funds managers parked 46 percent of their assets in real estate.
Apparently, the Securities and Exchange Commission of Zimbabwe which was established through the enactment of the Securities Act (Chapter 24:25), concurs saying its asset managers put 48.5 percent of funds in property.
Meanwhile, this shows inflation risk worries and a shortage of viable investment options in the economy.
IPEC is a statutory body established in the terms of the Insurance and Pension Commission Act [Chapter 24:21] to regulate the insurance and pensions industry with the objective of developing the industry for the protection of insurance policy holders and pension fund members’ interests.
IPEC regulates short and long term insurance, Private Occupational Schemes, and the Individual Pensions Policy.
Whilst Section 3 of the Act provides for the establishment of the Securities and Exchange Commission which is the regulatory body for the securities and capital markets in Zimbabwe.
Commissioners were appointed on 1 September 2008 whilst the Secretariat was established in 2009.
Zwnews
