MEPF improves its ranking and asset growth to more R20 billion AUM

Sonnyboy Masingi, chairperson of the MEPF

In Johannesburg today, 17 November 2022 – the Municipal Employees Pension Fund (MEPF) improved its rankings to 32 out of 5120 funds and grew its asset value to R21.2 billion, making the MEPF one of the top performing funds among retirement funds in the category of funds with assets under R30 billion.

The rankings were published by the Financial Sector Conduct Authority as at 30 October 2022.

The MEPF with more than 30,000 members employed in more than 100 municipalities across South Africa, was established on 1 July 1970 with the primary objective of servicing the retirement needs of the previously disadvantaged employees within local Government.

The strong growth of the Fund is driven mainly by its investment strategy that seeks to diversify its portfolio with infrastructure assets such as the recently purchased Nicolway Shopping Mall in Bryanston, north of Johannesburg and the flagship Radisson Hotel and ICC in Kempton Park.

In addition, the Fund has invested in another hotel development in Middleburg – the R350 million Radisson Hotel & ICC that is set to open its doors at the end of 2023.

The Fund believes strongly in the value of infrastructure investments as a catalyst for economic growth and job creation as part of its long-term strategy to grow the assets of its members so that they can retire comfortably.

The R21.2bn Fund is administered by Akani Retirement Fund Administrators, the only wholly black-owned and managed retirement fund administration company in Southern Africa.

“This is an indication that the MEPF is well managed and growing consistently since Akani took over the administration of the Fund more than two decades ago,” says Sonnyboy Masingi, chairperson of the MEPF.

ENDS