Papua New Guinea's largest superfund, NASFUND has announced a net profit of more than K360-million for 2021 with a crediting rate of 6.5%.
This is an increase of K140-million from the previous year, 2020.
 |
| PNG Superfund announces K360 million profit |
In making the announcement, Chairman of NASFUND, Charles Vee says the fund had demonstrated a strong resilience under a tough economic environment to attain positive results.
He says in the coming days, over K363-million Kina will be credited into more than 623, 000 member accounts.
''This includes a net asset value of K5.9 billion and a net profit of K363 million for the year ending 31st of December, 2021
''Am pleased to advise all our members that this equates to an interest crediting rate of 6.5% to all the members' accounts and all crediting rates will be deposited over the weekend into members' accounts,'' said Vee.
Additionally, the Fund has paid out K2.3-billion in superannuation entitlements to members over the last 5-years.