Nambawan Super Limited’s (NSL) Chief Executive Officer (CEO) Paul Sayer at the announcement of the super fund’s 2022 financial results on Thursday, 23 April, 2023, acknowledged the challenges faced by the fund in 2022 on several fronts.
Sayer says, despite these, the fund worked hard to mitigate the adverse effects that global and local economic conditions brought on by factors outside NSL’s control.
“NSL employs an investment strategy that aims to diversify our risks by running a balanced investment portfolio, whereby approximately 18% of our investments are deployed offshore, meaning 82% is actually held within the country, local investments.
“This is certainly done to de-risk the fund so that when global or local markets perform poorly, they balance things out.
“In 2022, however NSL experienced challenges on both fronts and more so than other similar organizations as we have nearly doubled the amount in international as a per cent of our assets than some of the other funds,” said CEO Sayer.
However, Sayer says while NSL profits are lower in 2022, the fund has managed to recoup K53 million in returns from unrealized valuation gains on shares listed on the PNG stock exchange as well as their unlisted equities.
“This positive result can be attributed to good valuation gains made by the likes of SP Brewery, OPH), Kumul hotels and Paradise Foods. These gains however, were largely offset by unrealized valuation losses from other investments such as things like our Rangeview and Moki Industries.
Last year the fund’s focus was on overcoming adversity in the present day to ensure that they continue to build better futures for their members over the long term.
CEO Sayer says, “The results for 2022 maybe discouraging however, we want to remind and assure our members that the funds are safe with us and are available to members. We are a long-term savings and we continue to grow and make those funds available for members when they are ready to retire and exit the fund.”