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Strategy

The Fund’s primary purpose is to preserve and maximise superannuation benefits of its Members, through prudent investment management. The Fund’s investment strategy (Investment Strategy) guides the investment decisions of the Fund, with the guidance of KFM, as the Licenced Investment Manager (LIM) for the Fund.

The Fund’s objective is to provide an after-tax return of at least +2% per annum, above CPI, with no more than one (1) negative return, in five (5) years. The headline CPI for Papua New Guinea for 2018 was 4.1%.

Investment Portfolio Performance

The Fund’s investment portfolio, including the RSA and reserves, increased to approximately K7.68 billion, as at 31 December 2019, which represents a substantial increase from the prior year.

The increase in the portfolio was mainly due to investment income and was partially offset by net withdrawals from the Fund. The investment income is primarily attributable to dividend, rents, interest income, and variations in the value of international investments.

 

Composition of Investment as at 31 December 2019

% HOLDINGS
Asset Class 31-Dec-2018 31-Dec-2019
Domestic Cash 1.8 1.2
Domestic Bonds – Short Term 18.6 23.2
Domestic Bonds – LongTerm 23.4 22.8
Domestic Equities 10.9 10.4
Domestic Unlisted Equities 15.9 11.7
Domestic Properties 16.6 15.2
International Cash 1.5 3.8
International Listed Equities 11.3 11.7
Total Portfolio 100.0 100.0

 

NSL’s Asset Weightings as at 31 December 2019

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