The Public Investment Corporation (PIC) is a South African state owned entity (SOC) with over R1.928 trillion (USD 157 Billion) of assets under management. It is Africa’s largest asset manager. Established in 1911, it holds large stakes in several South African companies, and is one of the entities through which the government implements its policy of Broad-Based Black Economic Empowerment. The PIC is also responsible for investing the South African Government Employees Pension Fund (GEPF). - Source: Wikipedia
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