Maharlika Investments Corp. earns ₱2.4 billion profit in first half of 2026

The country’s sovereign wealth fund says its investments helped grow assets to ₱79 billion while generating returns for the government.

Maharlika Investments Corp. (MIC) booked ₱2.4 billion in profit in the first half of 2026 as its investment portfolio started generating returns, putting the country’s sovereign wealth fund on track to meet its full-year earnings target.

MIC said it expects core net income to reach as much as ₱3.3 billion for the year, with its first-half performance supported by gains from several investments.

The fund recorded ₱2.7 billion in comprehensive income as of end-June, driven largely by fair value gains from its 20% stake in Synergy Grid Corp. of the Philippines.

MIC said the Synergy Grid investment has delivered a 105% annualized internal rate of return since the stake was acquired last year. Its $10 million bridge loan to Makilala Mining Co. also generated a 32% return before the investment was sold in June.

The fund has also received ₱367 million in dividends from its 11.9% stake in Asian Terminals Inc. Since it began investing last year, MIC said it has remitted ₱2.8 billion to the government from investment income while growing its assets to ₱79 billion from the ₱75 billion capital provided by the Development Bank of the Philippines and Land Bank of the Philippines.

The early returns give a first look at how the government’s sovereign wealth fund is building value from public capital, with attention now turning to whether it can sustain investment gains over the long term.

READ: