The Fiji National Provident Fund’s (FNPF) has brought good news, announcing a record 8% interest to be credited to the accounts of its 417,722 members tomorrow. The $561.5 million payout for the fiscal year ending June 30 is a significant achievement marking the highest payout in the last 20 years.
FNPF’s CEO, Viliame Vodonaivalu credits this accomplishment to effective investment strategies aimed at maximizing returns and diversification. He points to government bonds, making up 30% of the total income, and performing equities, contributing 51%. Commercial debt sits at 11% whilst property and other portfolios attribute to the remaining 8%.
Vodonaivalu explained that their core strategy is focused on optimizing returns, diversification across various asset classes and targeting resilient sectors for sustainable income. Telecoms assets reportedly generated 9% of the income from equities and commercial debt, while hotel assets contributed 24%.
Vodonaivalu believes these strategies have collectively led to FNPF’s exceptional performance. Short and long-term investments have stood up well, aligning with their mission to give members extraordinary returns. FNPF’s recent acquisitions of shares in Future Farms—Rooster Chicken, Fletcher Higgins and the mix-use commercial property assets are in line with their forward-thinking investment strategy.
The considerable growth of their offshore investments, despite restrictions, has also reportedly yielded good returns. As the main source of savings for many of their members, FNPF remains dedicated to promoting financial prosperity.
Members can check their updated balance via the myFNPF App or other digital platforms from July 1, 2024.