PhilippinesÆ GSIS may outsource in near future

Officials at the Philippines' Government Service Insurance System, which manages Ps205 billion ($3.9 billion) of assets on behalf of 1.4 million member civil servants, say it is looking at outsourcing part of its investments to external fund managers.According to Fernando Gaite, vice president in the GSIS' corporate finance accounts management department, "The present management is receptive to the idea, and a decision could be nearer than expected."Gaite would like to see parts of th…