Annual Performance

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Investment Portfolio


The Fund was positioned underweight in growth assets and maintained an overweight defensive assets in 2020. The current assets allocation strategy of the Fund aims at 60% Growth and 40% Fixed Income Assets.

In cases of constraints posed by a constricted economic environment and limited investment opportunities, the contingency asset allocation strategy of the Fund is a moderate 40% to 60% Growth to Fixed Income, as funds earmarked for growth assets are invested in the readily available Fixed Income securities.

The investment portfolio showed considerable growth, increasing from $7.5 billion in 2019 to finish at $7.9 billion in 2020.

The Fund returned a strong performance on an absolute basis relative to Growth assets performance, which was affected by market valuation. The realised investment income earned for the period was $422.0 million and unrealised investment loss was $53.6 million.

Net investment income before expenses was $368.4 million.

The first half of the finaincail year projected a positive outlook with better opportunities and returns.

As the market gathered strenght in the first quarter, there were strong growth in Government securities, term deposits and land acquisitions bought for further investment prospects.

In the second quarter, the Fund’s strategy on Growth assets investment was optimised. FNPF acquired 20% shares in Energy Fiji Limited (EFL) and further invested in the Vision Investments Limited (VIL) stock with the South Pacific Stock Exchange. The tourism sector investments enhanced with a $39.0 million loan to the Grand Pacific Hotel (GPH).

The third quarter unfolded with COVID-19 causing halts to major economies and posing threat to the investment environment across the globe. This however, did not deter the Fund’s investments initiatives.

Our focus was on risk-free Government bonds and supoorting our subsidiaries through our commercial lending arm.

As part of the tourism industry investment and support, the Fund financed major renovation works at Sheraton Fiji Resort and provided loans to Fiji Airways Limited.

For more information you can access our Annual Report Section

 

   

 

 

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