National Superannuation Fund, NASFUND, today sealed a deal with Kina Securities Limited for the provision of funds administration services.
This will see Kina managing a portfolio of K4.09 billion in superannuation savings for 543,000 members of the Papua New Guinea’s largest superannuation provider.
This is in line with a vision of improving services offered by NASFUND to its members in 2017.
According to NASFUND Chief Executive Officer, Ian Tarutia, the decision to select Kina as the preferred Fund Manager for NASFUND was in line with a vision to improve its services to customers.
“…the selection of Kina was done by the Board of NASFUND with its strategic view of keeping abreast with demands from its well-informed membership – members who have a high expectation for service delivery…,”
For Kina CEO, Syd Yates, this partnership with NASFUND now seals the status of Kina as the fund management provider of choice in PNG, as they also manage funds belonging to the country’s two other superannuation providers.
“…for a home-grown company, it is an exciting time for Kina as we partner with NASFUND to ensure that we provide the best possible service for members”
This deal signals the start of a new direction for NASFUND, as the superannuation provider embarks on making its services more user-friendly for its members.
The announcement also highlighted other innovations to follow during the year.