The Fiji National Provident Fund has acquired a mix of commercial and prime assets from Lyndhurst in June this year for $47.5 million.

This was part of FNPF’s broader plan to build a strategic property portfolio.

The Fund has provided clarification due to false and malicious statements that FNPF has purchased the Lyndhurst business for $500 million and that this was done under undue influence.

The fund, in a statement, says that the acquisition is for the property and not for the business, which is totally separate.

It says that stakeholders and members need to understand the difference and not misconstrue the acquisition.

According to the Fund, the investment was guided by FNPF’s Investment Policy Statement and that all governance processes were followed, including an independent market valuation.

It says that the acquisition is in line with the Fund’s mandate to diversify and build an industrial property portfolio, which would generate rental income and capital appreciation that will contribute to the overall growth of the investment.