Nambawan Super Limited announces over K300m profit
Papua New Guinea's largest super fund, Nambawan Super Limited, today declared a healthy profit of over 300-million Kina.
Making the announcement in Port Moresby today, Board Chairman Anthony Smare said, the Board is pleased with the overall results of the Fund against challenging conditions in 2014.
The profit of 338-million represents an average annual return of over 9-percent or 366-million Kina.
Mr. Smare says the outcome enables the Fund to declare a 7-percent crediting rate, which will be paid into members' accounts, including the Retirement Savings Account of retired members, while also putting 90-million Kina in reserves to counter any challenges in the coming year.
He says last year's strong financial result endorses the effectiveness of Nambawan Super's very disciplined investment strategy, while urging members to continue developing a savings culture to assist them in their retirement.
Making the announcement in Port Moresby today, Board Chairman Anthony Smare said, the Board is pleased with the overall results of the Fund against challenging conditions in 2014.
The profit of 338-million represents an average annual return of over 9-percent or 366-million Kina.
Mr. Smare says the outcome enables the Fund to declare a 7-percent crediting rate, which will be paid into members' accounts, including the Retirement Savings Account of retired members, while also putting 90-million Kina in reserves to counter any challenges in the coming year.
He says last year's strong financial result endorses the effectiveness of Nambawan Super's very disciplined investment strategy, while urging members to continue developing a savings culture to assist them in their retirement.
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