-says gov’t must give clear timeline for recovery of CLICO investment
The National Insurance Scheme’s asset allocation is well outside its Prudential Investment Framework (PIF) which had been approved in 2005 and a major rebalancing is needed, the draft report of the eighth actuarial review of the scheme has said.
Looking at the position at the end of 2011, the report said that 27% of the portfolio is short-term Government of Guyana treasury bills, 91% of the portfolio is held in short-term securities with most having maturities of one year and 99.8% of the investments are located in Guyana.
The report said that with such a heavy concentration in local, short-term assets the investment is not well diversified. The report pointed out that
