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PNG Superfund announces K360 million profit

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.

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