SSB Highlights Strong Returns, Eyes New Investments

Acting C.E.O Jerome Palma also gave an update on Social Security Board’s investment portfolio. He spoke about returns that the fund is receiving from its investment in the David Mckoy Building in Belmopan and its investments in utilities. Palma also hinted at future investment opportunities being explored.

 

Jerome Palma, Acting C.E.O., Social Security Board

“The investment portfolio as our GM Finance is still split a lot in terms of what it was even from 2023. We are still very much invested in our utilities, BEL, BTL, BWS. Those are our main investments. We have investments in treasury notes as well. We have a  few other loans to individual entities. The growth in the investment portfolio depends on the economy as well. What become the needs. We do have the PPP, the DLM building, that has had relative success in terms of take up, rental income and so forth. There are other initiatives we are looking at that it may be too early to disclose and get into. I say it with reservation because we have to do all our due diligence before we can move forward with those things. We do expect to grow the investment income and the portfolio. We are talking about an increase fund, fifty million surplus at the end of ’23, fifty million at the end of ’24, it is a hundred million in terms of the fund that we need to invest. We now have to take our time to see how we can develop that investment portfolio.”