THE Fiji National Provident Fund had $3.7billion invested in government securities in 2022, compared with $3.5billion in 2021.
FNPF stated in its 2022 annual report tabled in Parliament last week that bonds were naturally “safe assets”.
“The increase was due to investments exceeding maturities. Total investments in government bonds were $401million compared with maturities amounting to $215.8million.
The increase in investments came directly as a result of Government’s initiative to cushion the effects of the COVID-19 pandemic on the economy,” the report revealed.
“Over the years, government securities have been the major contributor of investment income for FNPF.
In the last decade, FNPF’s revenue from government securities has risen from $158million in 2012 to $247million in 2022.
“The returns on investments in government securities are reflected in the 6 per cent interest rate announced to our members for the financial year ended 2022.
“With investments in bonds, FNPF is assured of sustainable returns, and FNPF members are accumulating a portion of the profit to their growing balances each year.”
