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Regaining lost ground - PENSIONS - Magazine | Asia Asset Management

Macau’s Social Security Fund (SSF) is recovering after suffering one of its worst ever performances last year when global markets were hammered.

Macau social security fundSocial security fundMacau amp rsquos social security fund ssf is recovering after suffering one of its worst ever performances last year when global markets were hammered by us rate hikes and geopolitical tensionsHich wiped out 7 79 billion patacas us 967 million from the fund amp rsquos global investment portfolioR almost half of its total investable assets amp nbsp the ssf posted an investment gain 4 5 billion patacas in first 2023 after losing 7 16 all last year although fund rsquos fixed depositsHich represent 51 14 of its total assetsOsteda 1 44 investment yield in 2022Ts overall investments shed 7 46 established in 1990He ssf isa fund to provide financial support the poorThe oldHe terminally illHe unemployed and the disabled amp nbspa spokesperson for ssf points to recovery in global stock bond markets improved investor confidence bounce back from ldquo unfavourable factors rdquo that weighed fund down last year will continue strive fora reasonable stable long term returnEnsure financial stabilityS well as enable the fund to achieve long term sustainable developmentMp rdquo she tells asia asset managementPeaking on condition of anonymity amp ldquo the fund will closely observe economic changes and continuously optimise investment portfolio based income expenditure rdquo ssf had approximately 90 billion patacas assets under management as june 2023

Cloudy outlook - MACAU REPORT - Magazine | Asia Asset Management

Covid-19 has dealt a blow to Macau’s Social Security Fund (SSF) as strict travel rules in the Asian gaming hub over the last two years hammered.

Macau social security fundSocial security fundCovid 19 has dealta blow to macau amp rsquos social security fund ssf as strict travel rules in the asian gaming hub over last two years hammered casino revenues nbspHich derivesa big chunk of income from the gaming industryEported total income of around 9 78 billion patacas us 1 2 last yearEarly 5 lower than in 2020Ccording to its 2021 annual report published in september the ssf isa mandatory fund introduced by macau government 1990 provide financial support poorThe oldHe terminally illHe unemployed and the disabled employers employees have to contributea total of 90 patacas every month ssf fund amp rsquos major income sources are from its global investmentsOreign exchange from the gaming and tourism servicesIvidend and interestNd member contributionsLl of which declined last year income from foreign exchange alone plunged 62 5 to around 84 33 million patacas interest and dividend shrank 29 48 845 76 amp nbsp the macau government subsidises ssf through taxes levied on gaming industry these subsidies account for almost half fund rsquosCcording to kin sun chanN assistant professor in the government and public administration department of university macau when covid 19 hit 2020

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