Nasfund: K78.2m H1 profit

THE National Superannuation Fund (Nasfund) has recorded an unaudited first-half profit before tax of K78.234 million.
And the fund has continued to maintain strong performance, according to Nasfund in its monthly newsletter.
The fund grew by K123.6 million, or 8.4%, over the first six months of this year.
It said the net asset value grew from K1,467.8 million to K1,591.5 million during the period.
Nasfund said more than 16,000 members were now receiving credit balance status through their cell phones while the number of member-employers is now 56.
Total reserves amounted to 4.12% of the net asset value of the fund, or K65 million, and by last month, 9,076 people joined Eda Supa.
According to the newsletter, the PNG economy remained healthy.
“While much reliance for solid growth rests on the liquefied natural gas (LNG) project, many analysts have been too quick to focus on this as the sole reasons for our buoyancy,” Nasfund said.
“World attention has gathered momentum on PNG as the nation increasingly is being seen as a place to do business,” it said. 20 July 2009