FNPF Chief Executive Jaoji Koroi

The Fiji National Provident Fund says investment returns for members will not take a substantial hit due to COVID-19.

The Fund has investments in large resorts which have been closed for a few months, providing no income.

FNPF Chief Executive Jaoji Koroi says this represents about 16 percent of their portfolio, but there are other businesses which are paying well.

“We have 42% of our investments in government bonds. We continue to receive interest on those. Investments in Vodafone continue to pay the same level of dividends, HFC as well. They still provide investments that we provide for our members at the end of the year.”

The Intercontinental Fiji Golf Resort and Spa in Natadola and the Fiji Marriott Momi Bay Resort are two high profile investments for FNPF.

However, since the grounding of flights and the closure of Fiji’s borders, both resorts have not been generating revenue.