Fiji Times Logo

Fiji Time: 2:29 AM on Sunday 31 August

/ Front page / News

7.2pc income growth

Ropate Valemei
Monday, December 10, 2012

THE Fiji National Provident Fund (FNPF) has highlighted a steady growth in its investment income from $238.8million last year to $249.9million this year.

This, it said represented a 7.2 per cent return on investment (ROI). FNPF chief executive officer Aisake Taito, in the fund's 2012 annual report, noted the increase in the fund's offshore investments to $212.3million from $114.4million as they continued diversification of the investment portfolio.

"A 4.5 per cent growth in the contributions to $317.3million, reflecting strong enforcement and compliance. This however, was offset by total withdrawals of $318.2million resulting in a negative net contribution of $0.9million," Mr Taito said.

He said a loan of $145.7million advanced to Air Pacific was a strategic initiative to add-value to their investment in the tourism industry. "The fund, in partnership with NASFUND and Lamana Hotels of Papua New Guinea, commenced the re-development of the Grand Pacific Hotel, which is scheduled to open at the end of 2013," Mr Taito said.

He said the opening of the new Namaka office in Nadi would meet the growing demand of the members. He said despite the challenges faced and lump sum payment of $126.7million to pensioners, the fund recorded a net surplus of $115.6 million.


Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Today's Most Read Stories

  1. Rebels take our soldiers
  2. Mother prays for son's safety
  3. Businessman on $2k bail
  4. PM assures nation
  5. UN seeks to locate Fijian peacekeepers
  6. Request rejected
  7. UN calls for immediate release of Fijian men
  8. WHAT THE PARTIES SAY
  9. Majority want to know more about our land
  10. Rooney to lead

Top Stories this Week

  1. Shocking discovery Tuesday (26 Aug)
  2. Numbers list stays Monday (25 Aug)
  3. Van Gaal unhappy Wednesday (27 Aug)
  4. Woman of faith Monday (25 Aug)
  5. Unacceptable Tuesday (26 Aug)
  6. Commander confirms captured soldiers 'safe' Friday (29 Aug)
  7. Police act Wednesday (27 Aug)
  8. Man wants death probe Monday (25 Aug)
  9. Unhappy Fijians Tuesday (26 Aug)
  10. Show of support Thursday (28 Aug)