Salceda issued the remark after Senator Imee Marcos raised a concern that the proposed Philippine sovereign wealth fundwhich was hounded by graft issues.
“We can discuss the mix of assets that the fund will invest in, but some allocation for foreign securities is necessary. It diversifies the portfolio and allows the fund to take positions in potentially higher-return investments,” Salceda said. “Pooling of funds is a key feature and advantage of the current proposal since it maximizes the impact that GFIs can make compared to what they can achieve on their own,” he said.“On the demand for pension fund investments to be zero-risk, the government guarantee to GFI infusions in the form of preferred shares and convertible debts would make these investments zero-risk,” Salceda said.
It also provides that “sums thereafter necessary for additional contributions of the national government will be included in the General Appropriations Act or supplemental appropriations, as the case may be, subject to budget preparation process and authorization by Congress.”
Yung allowances nyong mga politiko Ang ipunin nyo at iinvest para everybody happy
Sss and Gsis contributions are not Government ASSETS, they're what was taken from our salaries!
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Source: gmanews - 🏆 11. / 68 Read more »
'Maharlika' fund won't end up like Malaysia's 1MDB; Salceda explains whyThe proposed P275-billion Maharlika Wealth Fund (MWF) has enough safeguards in it to prevent its embezzlement a la the 2016 1Malaysia Development Berhad scandal or 1MDB scandal in Malaysia. Ingat ka PBBM kasi parang traydor din yan eh. Baka aahasin ka niyan. ✌️👍
Source: manilabulletin - 🏆 25. / 51 Read more »
Salceda allays BSP Gov Medalla's fears over 'Maharlika' fundBangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla has expressed concerns over the proposed Maharlika Wealth Fund (MWF)–concerns that Albay 2nd district Rep. Joey Salceda, a proponent of the controversial measure, wants to chase away. NoToMaharlikaFund I find that proposal profoundly amateurish at best without solid foundation in the context of the Philippines financial situation It’s a self aggrandizing proposal to impress the uninitiated but is determined to be profoundly funny and preposterous to the real financial pros
Source: manilabulletin - 🏆 25. / 51 Read more »
Teachers’ group opposes, vows to block Maharlika Investment Fund billThe Alliance of Concerned Teachers slammed the proposed P250 billion Maharlika Investment Fund, which would source money from pension funds of the Government Service Insurance System and Social Security System. | JMangaluzINQ JMangaluzINQ MarcosResign JMangaluzINQ yung pension fund na lang ng mga BBM supporters ang ilagay nyo sa maharlika fund! wag nyong isama yung fund ng mga hindi bomoto sa kurakot na ito! Wala naman bago sa inyo ACT, kontra lagi para madaling magrecruit? Hmmmm...
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[ANALYSIS] ‘Maharlika Fund’ ni Marcos, kukunin sa pensiyon at buwis mo?'Kung ordinaryong taxpayer ka, baka mapunta sa wala (o bulsa ng iilan) ang perang pinaghirapan mo.' Opinion Mga hayop kayong 3 Think coco levy fund jcpunongbayan Hindi ako papayag. Kahit may autoimmune ako I will go to the streets to protest this.
Source: rapplerdotcom - 🏆 4. / 86 Read more »