NSL assets top K2bil

NAMBAWAN Super Ltd (NSL), the country’s largest superannuation fund, has boosted its assets’ value to just over K2 billion, showing a strong asset growth and a new record level for the fund.
This was disclosed in NSL’s October-December 2007 edition of Tok Save, a member newsletter, which also reported that this new record was achieved at the end of last year.
Managing director Leon Buskens attributed the performance to the reforms introduced under the Superannuation (General Provisions) Act 2000 and the political and financial stability in the country.
“Our vision is to build retirement value and maintain the highest level of benefits and quality of service for members along with our mission to protect and maximise the superannuation benefit for members through prudent investment management,” Mr Buskens said.
He said the fund’s on-going investment objective was “to achieve an average after tax return of over 2% above the headline inflation rate”.
“Since the reforms in 2002, we have been crediting members with double digit real returns,” Mr Buskens said.
He said with the growth in investment assets, members could expect to receive another double digit interest credit rate for the 2007 financial year.
Mr Buskens said the audits were well in progress and that they planned to make the announcement next month.
However, at the same time, Mr Buskens had cautioned against expectations in the fund paying double digit returns all of the time, as it was prudent and wise to remember the economic growth cycle both globally and domestically will slow down sometime in the near future.
“We are already seeing some of this happening with stock markets around the world,” he said.