Page 2 - IB August 2024

Improving food MILESTONE interest
rate for FNPF members
security through

climate services

e are excited to announce a strategy, for example, the acquisition
significant milestone for the Fiji of shares in Future Farms – Rooster
WNational Provident Fund (FNPF) Chicken and Fletcher Higgins of
and our members. We have achieved a Fletcher Construction and the mix-use
record interest rate crediting of 8% for commercial/industrial property assets.”
our members, the highest in the last two
decades. “Our offshore investments, although
restricted, has grown exponentially and
A total of $561.5 million was generated good returns.
paid to 417,722 members’ Mr. Vodonaivalu said the Fund also strives
accounts on 30th June, 2024. to provide members with satisfying
digital experiences such as the myFNPF
Chief Executive Officer Viliame App, employer portal and enabling online
Vodonaivalu said: “This remarkable payment solutions.
achievement is a testament to the
effectiveness of our investment He adds that with a continued member
Climat e r v f o strategies, which have been meticulously centric focus, the Fund has made great
te Services for
f
r
t
Climate Services for
crafted to optimize returns, diversify our
strides through the enablement of
portfolio, and focus on resilient sectors FNPF CEO Viliame Vodonaivalu. beneficial initiatives such as the inclusion
formed decision-
inf o for sustainable growth.” returns. Of the income earned from of professional development courses and
informed decision-
f
laptops in the education withdrawals,
“As we celebrate this achievement, we equities and commercial debt, our telco positive changes in medical and
mak i r e give thanks to the Almighty God the assets generated 9% and hotel assets unemployment pre-retirement benefits
king in agriculture
r
k
making in agriculture
accounts for 24%. These strategies
creator of heaven and earth, for His
and collaboration with institutions such
guidance and blessings. We will continue have collectively enabled us to deliver as the I-Taukei Land Trust Board for
Intra-African Caribbean Pacific to uphold our values of integrity, outstanding results and reaffirm our housing withdrawals.
transparency, and accountability in dedication to providing exceptional
Climate Services and Related serving our members and the people of value to our FNPF members. We look “The Fund remains steadfast in our
Fiji.” forward to continuing our successful commitment to elevate the financial
Applications Programme approach to ensure stable and robust prosperity of our members. Retir ement
“The increase in income, has been driven growth in the future.” savings is the main source of savings for
This European Union-funded programme is by several key contributors. Government our members and we strive to provide
bonds have been a significant source of “We have consistently delivered them with the best returns that will
supporting the Climate Information Services value impressive returns, backed by strong
total income earned, accounting for 30% ensure growth in their funds for their
chain in the Pacific with technical and financial of the total. Equities have also performed performance in our investments future.”
assistance, infrastructure and capacity building. well, contributing 51%, commercial debt portfolio. Our range of short and long-
11% and Property & other portfolio 8%.” term investments have paid dividends, The interest was credited to members’
strengthening our mission to grow our
Pilot Countries members’ savings through exceptional accounts on June 30th.
“These results align with our core
strategies of optimizing existing returns.”
investments, diversifying across
various asset classes, and focusing “A few of our recent investments are
on resilient sectors for sustainable a testament to our forward looking
Kiribati Samoa Nauru Tonga
www.sprep.org/climsa
2 Islands Business, August 2024
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