# South Africa’s state-owned asset manager, the Public Investment Corporation, has recorded a massive 20-percent surge in assets under management. The PIC announced that its portfolio has climbed to a record of more than 3.6-trillion-rand for the past financial year. The asset manager credit the historic growth to booming local stock markets and positive investor sentiment under the Government of National Unity. CEO Patrick Dlamini says the robust performance was also driven by strong performance in South African-listed equities, a resurgence in local financial markets, positive investor sentiment and political stability.
PIC increases its assets under management by massive 20%