Head of South Africa's powerful pension fund resigns

JOHANNESBURG Fri May 30, 2014 8:05am EDT

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JOHANNESBURG May 30 (Reuters) - The chief executive of South Africa's Public Investment Corporation, the continent's largest asset manager, has resigned, the government-owned fund said on Friday.

Elias Masilela will formally resign on June 30, but will take his outstanding leave with immediate effect, the PIC said.

Matshepo More has been appointed acting chief executive of the fund, which manages more than 1.6 trillion rand ($154 billion) of government employee pensions. (Reporting by Tiisetso Motsoeneng; writing by David Dolan; Editing by Stella Mapenzauswa)

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