PenCom opens investment window for PFAs

The National Pension Commission (PenCom) has said the fresh investment window for Pension Fund Administrators (PFAs), extending by two years the regulatory forbearance, would allow them to invest pension assets in securities issued by the parent companies of their Pension Fund Custodians (PFCs).
The move, contained in a circular released earlier this month and signed by the Director of Surveillance Department, A.M. Saleem, PenCom stressed is expected to give pension managers greater flexibility to diversify investments at a time quality investment instruments remain limited in the domestic market.
PenCom said the temporary relief would remain in force for 24 months, insisting that the...