NASFUND has announced its 2012 profits.
Following a board meeting that accepted its audited accounts, NASFUND said it made a Net Profit of over two hundred and twenty million kina.
Beard chairman Mel Togolo said 2012 was a year of consolidation, where much focus was on capacity building, strentheningthe management team and realigning functions.
NASFUND’s net profit of K220.8 million in 2012 is significantocompared tothe K 9.4 million losses in 2011.
The fund also recorded Gross Assets of K 2.96 billion, representing a growth of 19.5%.
Net Assets grew by 17% to be at K 2.8 billion. NASFUND had an active membership base of over 172 thousand members… a growth of 8%.
Onthe back ofthe financial performance ofthe year,the Beo Metric Identification system for NASFUND Contributors Savings & Loan Society members was introduced.
The Beard also approverd a crediting rate of 10% to be paid to members. Mr. Togolo said he is sure members will be happy to receive 10% onthe back of 2% paid in 2011.
The Fund has credited members a compound 15% overthe last 10 years and this is reflective ofthe Fund’s long-termInvestment and Risk Management Strategy which ensures consistency in trend of investment returns and payment of interest to members.
Delly Begu, National EMTV News
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