Charles River signs South Africa's Public Investment Corporation

PIC is wholly owned by the South African government, with the minister of finance as a shareholder representative. PIC was established as a corporation on 1 April 2005 in accordance with the Public Investment Corporation Act, 2004. PIC's role is to invest funds on behalf of its clients, based on investment mandates set by each client and approved by the local regulator, the South African Financial Services Board.