PPF announces 'Statement of Investment Principles'

The much-criticised PPF says these principles, which will be reviewed annually, state cash collected through the initial first year levy will be invested in government bonds, non-government bonds, index-linked bonds and cash and derivative instruments relating to these asset classes. The firm also announced its appointment of Insight Investments and PIMCO to act as fund managers, along with State Street Bank as custodian. Goldman Sachs Asset Management has also been selected as a fund manager with a deferred appointment. Chairman of the board of the PPF, Lawrence Churchill says:“Our...