The Fiji National Provident Fund’s investment portfolio grew in value by more than one billion dollars last year. During the FNPF annual member forum in Suva last night, Chief Executive Viliame Vodonaivalu said the Fund’s investment portfolio grew from $9.4 billion in 2023 to $10.6 billion in 2024. Significant investments in local equities, government securities, and resilient agricultural sectors, including a substantial acquisition in Future Farms Limited (trading as Rooster Poultry), demonstrate the Fund’s forward-looking strategy to ensure long-term growth he said. In his presentation, Vodonaivalu highlighted FNPF’s total assets, which reached $10.6 billion as of June 2024, with member funds contributing $8.1 billion. This marks a 12.5% increase in member funds year-over-year, partly driven by higher contribution collections. He said FNPF had a net income of $882.1 million, up from $775.8 million in 2023. Contributions increased to $779.8 million from $541.5 million in 2023, as more members made additional and voluntary contributions. A key highlight from the CEO’s presentation was the separation of the fund into three distinct areas: FNPF Funds, Special Death Benefit (SDB) Funds, and Retirement Income funds (RIF). Vodonaivalu said this separation allows for more focused management of funds, with each tailored to meet specific financial needs such as growing retirement savings, annuity payments, and claims. The CEO announced an 8% credit interest rate for the financial year, totalling $572.4 million to be credited to member accounts. Over the past six years, FNPF has paid members $2.3 billion in interest, with the rate steadily increasing from 2022 onwards, reflecting the strength of its investments. In other developments, FNPF has launched a rebranding campaign to improve communication and services in response to member feedback through surveys. The Fund has also made enhancements to the myFNPF app and the Employer Self-Service Portal. Looking ahead, Vodonaivalu said the Fund was intent on pursuing diversification through offshore investments and reviewing the scheme’s design and governing legislation. The FNPF member forums will be held in Suva, Nadi, and Labasa, allowing FNPF members to engage directly with management and gain a deeper understanding of the Fund’s operations.