The Fiji National Provident Fund has invested $103.3m in a new Emerging Asia Fund.
The fund is being established by a subsidiary of the World Bank’s International Finance Corporation (IFC).
One of the key strategies for the FNPF is to diversify its investments.
The fund has invested in Australia, US and New Zealand through the International Finance Corporation.
“We invest in bonds we also invest in real investments we invest in alternative investments which are infrastructure based and more recently we have gone into a fund which is managed by IFC which we invest with IFC in some of the key projects and together with IFC we will invest in countries in this region that will give us returns in the future.” FNPF Chief Operating Officer Jaoji Koroi.
With bulk of the investments still in Fiji, 10% of FNPF’s investments are offshore.
“Diversification is to ensure that we don’t put all our eggs in one basket so we have been working with the reserve bank to allow us to take money and invest offshore to make sure that returns members get is diversified.”said Koroi.