NPF Portfolio investments to grow by seven percent

The SINPF logo. Photo credit: SIBC.

Portfolio investments of the Solomon Islands National Provident Fund are expected to grow by more than seven percent by the end of this financial year.

NPF Chair, Peter Boyers disclosed this at the credit rating announcement over the weekend.

Speaking before the announcement, Mr Boyers said the Fund’s portfolio investments are expected to grow from 3.15-billion to more than 3.37-billion by the end of 2018.

He said this is driven by the fare value of the Fund’s domestic equities.

“This growth is driven by strong growth in the fare value of our listed domestic equities, South Pacific Oil 100 percent; Solomon Telekom Limited 97.32 percent; Port Moresby Stock Market listed Bank South

Pacific, BSP, and Managed Fund Vanguard US Stock Index Fund. Our relatively new Hibiscus Apartments continue to improve at a 100 percent occupancy, adding to this growth.”

Mr Boyers added, the portfolio investments are expected to make a gross return of more than 3-million dollars.

“In terms of investment performance, the portfolio is expected to make a solid gross return of more than 325.5 million, three hundred and twenty-five point five million for the financial year or a gross rate of return

of just under 10 percent.

“This is compared to 2018 gross return of a hundred and twenty million. This is a solid performance driven by our equities and the following investment companies, dividends, shareholder

loan interest and capital growth.”

 

By: Rickson Bau

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