The Board Chairperson and Management of the Public Service Pension Trust Fund (PSPTF) wishes to inform its members and the general public that none of its funds/assets were invested with Alliance Capital Limited. This comes after social media posts that have lately gone viral alleging that PSPTF had invested through Alliance Capital Limited and members have lost their pension benefits following the court order to liquidate Alliance Capital Limited.
The Fund outsources a number of services such as Pension Administration and Investment Management. The current Pension Administrator is Zamara Pension Administrators Limited while the Investment Managers are Old Mutual Investment Group, Continental Asset Management and NICO Asset Managers.
Zamara Pension Administrators Limited is a different company to Zamara Pension Fund which is appearing on the list of companies that invested with Capital Alliance. The main duty of the Pension Administrator is to provide data management services and also facilitate payments of benefits. The Administrator does not make any investment nor keep custody of pensions funds.
On the Investment Managers, PSPTF has noted that NICO Asset Managers is on the list of companies who are said to have invested with Alliance Capital Limited. The Fund would like to assure its members and the general public that none of its funds were invested in Alliance Capital Limited. Members are also being informed that before making any investment decision, Investment Managers engage the PSPTF Board and Management for approval and that the PSPTF does not provide loans to companies, individuals nor invest in unlisted assets.
Therefore, the PSPTF would like to assure all its members that the funds in their pension accounts are intact and PSPTF will continue to provide optimal pension and/or retirement benefits to its members while ensuring optimal investment returns without undue risk for the benefit of the members and their beneficiaries.

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