THE Philippine sovereign wealth fund manager posted P2.69 billion in total comprehensive income for the period ending June 30, which reflects ‘expanding’ income streams from its deployed portfolio combined with ‘steady’ returns from cash and short-term placements.
The Maharlika Investment Corp. (MIC) said through a statement issued last Thursday that the comprehensive income comprises P1.24 billion in net income and P1.45 billion in other comprehensive income.
According to the state-run firm, capital deployment surged during the first six months of the year, with MIC investing P18.8 billion across key national industries.
This brought the fund’s cumulative deployed capital to P24.7 billion as of June 30,2026.
‘Major investments in H1 included a P15-billion working capital facility extended to Petron Corporation to finance crude oil and refined petroleum importations and operational needs,’ the MIC said.
The state-run firm said it also expanded its stake in port operator Asian Terminals Inc. (ATI) through an additional P4.79-billion share acquisition.
The MIC said its increased ownership and board representation enable it with ‘greater participation’ in ATI’s key financial and operating decisions. As a result, the investment is accounted for as an associate, allowing the MIC to recognize its share of ATI’s earnings.
Alongside the fresh deployments, MIC said it completed its maiden asset divestment on June 5,2026, ‘successfully’ exiting its bridge-loan investment in Makilala Mining Co. Inc. (MMCI) through the assignment of its lender position.
The state-run firm said this transaction generated a ‘realized gain’ while recycling capital for prospective investments.
‘Our first-half performance demonstrates MIC’s rapid progress from foundation-building to active capital deployment,’ MIC President and CEO Rafael Jose D. Consing Jr. was quoted in the statement as saying.
Meanwhile, the MIC said deployed investments generated P2.09 billion in total portfolio returns during the six-month period through dividends, loan interest, realized gains, and equity holdings appreciation-including fair value gains from Synergy Grid and Development Phils., Inc. (SGP).
Despite the ‘rapid’ pace of investment activity, MIC said it maintained a ‘strong’ fiscal position.
Total assets stood at P129.5 billion as of June 30,2026, backed by P53 billion in cash and cash equivalents, preserving the fund’s ‘agility’ to pursue additional strategic transactions.
‘By channeling funds into critical infrastructure, energy logistics, and strategic commercial ventures, we are delivering sustainable financial returns for the Filipino people while actively supporting economic growth’ Consing added.
The MIC said its first half performance in 2026 highlights an ‘effective balance of high-impact direct investments, disciplined treasury management, and proactive capital recycling.’
The MIC acts as the ‘sole vehicle’ for mobilizing and managing the Maharlika Investment Fund, the sovereign wealth fund of the Philippines. The chartered government-owned and -controlled corporation is mandated to drive long-term economic development by making strategic, high-yield investments in core infrastructure, energy, logistics, and growth-oriented sectors.