A Narrative Inquiry into the Sensemaking on Maharlika Funds Among Educators of a Manila-based University

Abstract

Anchored on narrative inquiry into the sensemaking of nine educators from a Manila-based university, the study analyzed and restoryed their stories about the Maharlika Investment Fund (MIF), a sovereign wealth fund (SWF) approved under the Marcos administration and how these shaped their thoughts. As a developing country, there is doubt the SWF will flourish since it is suffering from inflation, debt, and trade deficit. While the intents are good, there is little understanding about it. Using restorying, thematic analysis, sequence analysis, and word cloud, teachers’ narratives were gathered that led to the following themes and sequencing: distrust and skepticism; lack of understanding and knowledge; concerns over transparency and accountability; perceived risks and benefits; and a need for public involvement and consultation. Distrust and skepticism point to an apprehension about the MIF that resonates a deeper sentiment about government initiatives. Such skepticism could be attributed to historical contexts where the Philippines faced issues of fund mismanagement in the past. The lack of understanding and knowledge about the MIF shows a gap in communicating and educating the public about it. This implies that there is a need for an effective information dissemination system to increase people’s awareness. Transparency and accountability show that a more strategic framework must be developed for MIF operations. As well, the perceived risks outweigh the benefits for fear of flawed financial management and corruption.