Fedusa wants to review PIC investments

South African labour federation Fedusa said on Saturday it would consult rival federations over withdrawing an investment mandate the workers’ pension fund has with one of the continent’s largest asset managers, the Public Investment Corporation (PIC). The PIC manages South African government employee retirement funds and has been in the spotlight recently after reports the finance ministry requested money from the pension fund to bail out struggling state firms. Finance Minister Malusi Gigaba has denied making such a request.