S.I.N.P.F CHALLENGED BY SMALL ECONOMY
The NPF logo. Photo credit: SIBC.
The Solomon Islands National Provident Fund (SINPF) continues to face challenge prone to small economies – where viable investment opportunities are scarce, said NPF Board Member Gideon Zoloveke.
Mr Zoloveke made the statement during the recent announcement of the NPF crediting rate for this year.
He says being a small economy is a continuous challenge for the fund, especially where viable investment opportunities aren’t many.
“The fund continues to face the challenge of being in a small economy where viable investment opportunities are scarce and liquid financial markets, where it is difficult to dispose off assets in a timely manner as and when required.”
Meanwhile, the NPF Board Member adds, the fund is actively seeking new investment opportunities both locally and overseas to grow and diversify its income base as membership increases.
“The fund is actively looking for new investment opportunities locally and overseas as part of growing and diversifying the fund’s income sources as membership grows. This is to ensure that the volatility of our returns do not impact negatively on the value of our member’s contribution during their time with the fund and at their retirement.”