Papua New Guinea's largest superannuation fund, Nambawan Super declared a profit of K526 million for 2021 against a fund asset size of more than K8-billion.
N-S-L Deputy Chairperson, Dame Meg Taylor announced this in Port Moresby yesterday, (Tuesday, 29th of March 2022).
She says despite the tough economic conditions, the Board is pleased with the results for its members.
More than 200 000 members of Nambawan Super Limited will be paid a crediting rate of 6.5% into their accounts in the coming days following the announcement.
Dame Meg says despite the challenging economic conditions, the Fund was able to deliver positive results through its effective and disciplinary strategy on capital investments.
Chief Executive Officer Paul Sayer when commenting on the fund's overall investment performance acknowledged the NSL board, management and staff for their commitment to the fund throughout 2020.
He also encouraged members in this tough time to continue to save in order to see better returns in future.
NBC / Pacific Business News
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