Kreetika Kumar 
Fiji National Provident Fund member funds increased by $900 million, reaching a total of $8.1 billion, reflecting a 12.5 percent year-on-year increase.
Chief executive officer Viliame Vodonaivalu revealed this as he announced that FNPF achieved an impressive 11.6 percent growth in total assets.
He said this was driven by strategic investments, including forming new partnerships, increasing existing stakes, and securing new deals.
Vodonaivalu said this highlighted the fund’s commitment to maximizing performance and securing the financial future of its members.
He added that the growth was partly driven by high contribution collections.
Vodonaivalu said FNPF’s financial performance was a reflection of the diversification of its investment portfolio, balancing growth and defensive assets allocations.
Despite challenges, he said the fund has been able to increase its asset base through the returns gained from investments and members have gained through the interest credited to their accounts.
FNPF also announced its achievements for the 2024 financial year ending 30 June 2024, with an overall growth in assets to $10.6 billion from $9.5 billion in the previous year.
The fund’s net return on investment (ROI) increased to 8.5 percent, which led to the declaration of a crediting rate of 8 percent and payout of $572.4 million in interest to members in July.
