Civil Servants Pension Fund net worth dropped MOP1.6b in 2022

The Civil Servants Pension Fund has accumulated losses in 2022 accounting for a drop in the net worth of the Fund by 1.57 billion patacas to just 26.14 billion patacas, results from the financial balance of the fund in 2022 published in the government official gazette noted.

Contributing most significantly to the poor result of the Fund were the investments made in the stock market, accounting for a loss amounting to 3.29 billion patacas.

This was the largest loss recorded by the Fund since its establishment in 2007.

Among the major losses were the investments in the International Equity Investment Fund: “Schroder ISF — Global Equity Alpha C Acc,” accountable for a loss amounting to 1.75 billion patacas. Also dropping significantly was the “iShares Developed World Index Fund (IE) — Institutional Accumulating Class,” which also lost some 1.06 billion patacas over the course of last year.

In 2021, the two previously mentioned investment funds had earned almost 1.8 billion patacas.

Dropping already since 2021 was the investment in the “Global Bond Fund (Institutional Class),” which in 2021 had lost some 46 million patacas and in 2022 lost over 605 million patacas.

On the gains side, the investments in “Bank Deposits Portfolio” earned almost 122 million patacas.

The fund total net worth losses were partially offset by the injection of new contributions from the civil servants, as well as from the government into the Fund over 2022.

In 2021, although the market situation was also not considered ideal, the Civil Servants Pension Fund accumulated a positive net worth of 4.6 billion patacas.