BY NED GAGAHE

The Solomon Islands National Provident Fund (SINPF) has recorded another year of strong growth with its unaudited net asset value climbing to $4.6 billion as at 30 June 2025.

Announcing the Fund’s 8 percent crediting rate recently, CEO and General Manager Mike Wate said the increase represents a 9 percent growth from $4.2 billion in 2024.

He attributed the growth to positive investment performance, new investments, annual revaluation surpluses from listed and unlisted equities, property portfolios, and increased holdings in government securities.

Meanwhile, the Fund also reported progress on its property development projects.

Implementation of the $116 million DFAT town houses and executive apartments expansion is underway, with completion of the town houses expected in December 2025.

Wate said that DFAT is scheduled to take possession of the new apartments at the end of this year.

However, Wate revealed that the Board has placed on hold its planned four-level commercial building at the former Home Finance property on Hibiscus Avenue.

Construction will only recommence once remedial actions are completed.

He said potential new property investments are being assessed and will be submitted for approval by the Minister of Finance and Treasury in due course.

Wate assured members that the Fund remains strong and committed to growing its portfolio while safeguarding members’ savings.

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