Great news for Fiji National Provident Fund’s (FNPF) 417,722 members — a record 8 per cent interest will be credited to your accounts tomorrow.
FNPF announced the $561.5million payout to members yesterday for the financial year ending June 30 this year, representing the highest payout in 20 years.
FNPF chief executive officer Viliame Vodonaivalu said this “remarkable achievement’ is testament to the effectiveness of their investment strategies — crafted to optimise returns and diversify its portfolio.
He said several key contributors drove the increase in income.
“Government bonds have been a significant source of total income earned, accounting for 30 per cent of the total. Equities have also performed well, contributing 51 per cent, commercial debt 11 per cent, and property and other portfolio — 8 per cent,” Mr Vodonaivalu said.
“These results align with our core strategies of optimising returns, diversifying across various asset classes, and focusing on resilient sectors for sustainable returns.
“Of the income earned from equities and commercial debt, our telco assets generated 9 per cent and hotel assets accounts for 24 per cent.”
Mr Vodonaivalu said those strategies collectively enabled FNPF to deliver outstanding results.
“We have consistently delivered impressive returns, backed by strong performance in our investment portfolios.
“Our range of short and long-term investments have paid dividends, strengthening our mission to grow our members’ savings through exceptional returns.”
The recent acquisitions of shares in Future Farms — Rooster Chicken, Fletcher Higgins and the mix-use commercial property assets, he said is a testament to their forward-looking investment strategy.
“Our offshore investments, although restricted, has grown exponentially and generated good returns.”
He said the Fund being many members’ main source of savings, they remained committed to elevate financial prosperity for them.
Members can view their new balance on the myFNPF App and other digital platforms from Monday, July 1 (2024).
