Previous Story
Fund’s investments up 4 percent in Nov.
|
Posted on Dec 29 2004
The NMI Retirement Fund’s investments went up again in November, registering a 4.2-percent growth compared with the previous month.
Data obtained from the Fund shows that its investments grew to $382.9 million in November from $366.3 million in October.
Fund administrator Karl T. Reyes said the growth was due to good showing in the energy sector as prices of oil continue to increase worldwide.
“We’ve got bonds and stocks in this sector [energy] and the prices of oil continue to go up,” said Reyes.
Meanwhile, he said that investments in general posted growth every month during the year except in July and February.
“These were the months when investments went down. All other months, except for December of course, we saw growth,” said Reyes.
Data showed that Fund investments rose by $21 million or about 6 percent in October 2004 compared with September. Merril Lynch records showed that investments as of Oct. 31 this year totaled $366.3 million, from September’s $345 million.
Reyes earlier said that the October growth may be attributed to recent changes in the composition of money managers and equity sharing strategies.
In October, he said, the Fund began to put money under Treasury Inflation-Protected Securities or TIPs, a special type of bond considered the safest type of investment in the world.
The Fund placed $20.5 million worth of investments in TIPS, representing 6 percent of its total investments. The agency intends to increase its TIPS investment to 10 percent of its total investment.
