Crediting Rate

CTSL announces 6.5% crediting rate

This follows an impressive cash flow reversal for the fund after the CTSL Boards removal mid 2019.

The announcement was made by Statutory Manager, Sitiveni Weleilakeba, CEO Charlie Gilichibi, and PNGDF Commander, Major General Gilbert Toropo.

The announcement comes off the back of a turbulent year in which the entire CTSL Board except PNGDF Chief of Staff, Capt. Philip Poleware, were suspended by the Bank of PNG in July 2019.

The Central Bank was of the view that the then Board did not perform in accordance with the Central Bank regulations and expectations.

NASFUND announces crediting rate

This followed acceptance of the 2019 audited accounts by the NASFUND Board at its meeting held on Thursday morning, 27th February 2020.

Chairman Charles Vee, on behalf of the Board stated that the results were positive in yet another challenging year. Chairman Vee said the Fund had demonstrated a strong resilience in attaining a positive outcome with an over budgeted performance in cash returns from investments and controlled expenses.