Phl takes helm at $1.3-T Asean social security fund

The ASEAN Social Security Association (ASSA) has reported $1.3 trillion in collective assets under management as its leadership will formally be transferred to the Philippines.

- KEISHA TA-ASAN

During ASSA's 41st conference and board meetings, Government Service Insurance System (GSIS) president and general manager Jose Arnulfo Veloso said leveraging the pooled resources is crucial for driving regional progress.

"The $1.3 trillion in collective assets under our management represents more than just financial strength. It positions us members as significant players in global capital markets and demonstrates our capacity to influence economic trends," he said.

Veloso, who currently sits as ASSA's vice chairperson, said there is "tremendous responsibility" in deploying the association's $1.3 trillion long-term funds strategically.