For 15 years, Dr Dan Matjila was at the helm of Africa’s largest asset manager, the state-owned Public Investment Corporation (PIC), first as the Risk Manager from 2003 to 2005 and then Chief Investment Officer from 2005 to 2014 and, for the last four years until 23 November 2018, Chief Executive Officer. The PIC’s key clients were the Government Employees Pension Fund (GEPF), Department of Labour
Funds, Workman’s Compensation Funds, Unemployment Insurance Fund (UIF), Skills Funds, Department of Justice: Guardian Funds, and other public sector funds. During the time that Dr Matjila led his highly talented team, the PIC enjoyed unprecedented success. GEPF’s asset base increased to more than R1.8 trillion from R277 billion. While the UIF also enjoyed exceptional growth, increasing its asset base from R9.9 billion to R155 billion. This UIF growth rate enabled the government to fund COVID-19 TERS (the Temporary Employer-Employee Relief Scheme), which became a lifeline to millions of citizens who lost their income during the pandemic of 2020.
