Varied investment portfolio boosts results

THE varied investment portfolio of National Superannuation Fund (Nasfund) was one of the main reasons for its positive financial results for last year, says chief executive officer Ian Tarutia.
He told The National that last year was a challenging one for businesses especially in the retail sector which the superfund had invested in.
“We have got some investment in the retail sector particularly City Pharmacy Limited. What’s happening in that sector is a reflection of the economy as a whole,” Tarutia said.
“It was a challenging year with issues such as the foreign exchange, drought in certain areas of the county and a whole range of factors.
“The retail sector is something that we have to spend a bit more time on having a look at the business model and at what can do better. The diversification of the whole portfolio has definitely mitigated some of these shocks that were faced by investors last year and also by us.
“There were some losses in valuation for some of our assets like retail. But overall it was still positive as the spread of investments ensures that if a certain area drops in a particular year Nasfund still has the capacity to still deliver results for members.”