Pension Agency of Georgia is preparing to invest in international financial markets. JP Morgan Chase, one of the largest investment banks worldwide will offer brokerage services to the Pension Agency.
“As of the decision of Investment Council of the Pension Agency, diversification of the investment portfolio is an active phase since March 2022. As a result, the pension agency has started purchasing USD. The next step will be to invest the funds in global financial instruments, "- said the agency.
According to the March 2022 report, the net worth of the pension fund assets is GEL 2.23 billion. The fund's net income amounts to 34.6% from 2019 to March 2022, while the real income (taking into account inflation) is 3.15% in the same period.
As of March 31, 4.2% of the investment portfolio is invested in USD.
As of April 6, 2022, 1 million 265 thousand participants are registered in the pension scheme. The accrued interest as a result of investment activities amounted to GEL 318 million. To date, 1,698 people have benefited from the accumulative pension.
JP Morgan Chase is currently the world's largest investment bank with a market capitalization of over USD 400 billion.
