B riefs usiness

PIC appoints Rikhotso as chief investment officer

The Public Investment Corporation (PIC) this week appointed Kabelo Rikhotso as its new chief investment officer.

Rikhotso will join the PIC from Visio Fund Management where he was an executive and fund manager. He has more than 18 years’ experience in the asset management industry and founded the first black-owned investment firm, Royal Investment Managers in March 2016.

At the PIC, he will oversee the institution’s overall investment strategy; monitor and review all investment decisions; and develop the outlook and asset allocation function, in line with the investment mandates of the PIC’S clients. He will assume his duties on May 10.

PIC CEO Abel Sithole said: “His core function will be to sustain the PIC’S investment performance and to continue growing the portfolios of our clients.”