February 23, 2023

FNPF investments: Fund to hire a full-time independent investment advisor

THE Fiji National Provident Fund will hire a full-time independent investment advisor to the Board, states the FNPF chairman Daksesh Patel in the 2022 annual report that was tabled in Parliament last week.

FNPF’s investment portfolio grew from $8.1 billion in 2021 to close with $8.6 billion in 2022.

The funds’ net investment income before expenditures for the 2022 financial year has grown from $543.5 million last year to $650.8 million.

“In further enhancing the independency of our investment decisions, the Board has now engaged a renowned investment firm in Australia to review our investment policy statement,” Mr Patel said.

“In addition, the fund will employ a full-time independent investment advisor to the Board.

FNPF has listed eight investment highlights for 2022 that includes commercial loan to Amalgamated Telecom Holdings (ATH), second tranche of ATH share rights, refurbishment and reopening of Sheraton Fiji Golf and Beach Resort, Fiji Airways share acquisition, purchase of secondary market Government bonds, Nadi retail project completion and opening, Paradise Beverages divestment and opening of Ba Hospital.

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