Pension funds flock to VFEX

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ZIMBABWE’S pension funds have found a home on the Victoria Falls Stock Exchange (VFEX) for their US dollar holdings, most of which are now in equities, according to the latest industry report.
In the report, covering the quarter to June 2022, the Insurance and Pensions Commission (Ipec) said the total foreign currency-denominated assets for the pensions industry amounted to US$347 million at the end of that period.

“The major asset classes were equities, prescribed assets and cash at bank constituting 52 percent, 24 percent and 12 percent.
“The Victoria Falls Stock Exchange, private equity, newly issued gold coins and offshore markets, are some of the investment opportunities available for foreign currency investments,” the regulator said in the report.