Nasfund wins citation

Business, Normal

The National Superannuation Fund (Nasfund) has been awarded the 2009 innovative company of the year trophy.
Nasfund was cited by the PNG Institute of Directors for its strong focus on transparency and accountability, efficient client service delivery, social awareness initiatives, and most importantly its innovative services.
Nasfund was the first company to be licensed as an approved superannuation fund by the Bank of Papua New Guinea under the superannuation reforms introduced by the Morauta government in 2002.
Since then, it has grown from a fund size of K326 million in net assets, 65,000 active members and an employer-base of 945 employers to over K1.6 billion in net assets, 125,000 active members and 1,755 active employers today.
It has grown at an average rate of 29.7% compound for the last 10 years and is one of the fastest growing financial institutions in the country today.  It is considered to be a leading light in the PNG business community.
The fund was the first organisation to open itself to public scrutiny by placing board minutes on its website. 
Its strong focus on client service delivery is qualified by the 12 branches it maintains throughout the country and one dedicated client service centre in Port Moresby, which serves on average 4,000 enquiries a week.
To date, Nasfund is the country’s biggest superannuation fund for private sector workers.