Philstar Biz reported that the Maharlika Investment Corp. posted a net income of P629 million in the first quarter of the year, signaling a strong start for the sovereign wealth fund manager.
The state-run fund, which began operations in late 2023, has been focusing on infrastructure and energy investments to generate returns. The first-quarter performance comes as the government seeks to maximize the use of the Maharlika fund to support economic growth.
The P629-million net income marks a significant milestone for the fund, which had earlier faced scrutiny over its governance and investment strategy. Officials have not yet disclosed specific investment gains or asset allocations for the period.