Edges ever closer to P10 billion mark
Debswana Pension Fund (DPF) continues to go from strength to strength, enjoying a sparkling 2021 that has seen its assets surge towards the P10 billion mark.
Starting the year with a net worth of P9.1 billion, by the end of October that figure had risen to P9.7 billion, with DPF seemingly immune to the affects of Covid-19.
With almost 12, 000 members and its various investments continuing to grow, the fund is expected to reach the magical P10 billion mark in the near future.
Speaking at a press briefing on Monday, the fund’s Chief Executive Officer (CEO), Gosego January attributed the growth to DPF’s ‘robust and diversified investment strategy’.
“Over the years, we have seen the Fund’s Asset Under Management grow exponentially and indeed securing members futures through sustainable superior returns amidst the challenging environment and uncertainties brought by the Covid-19 pandemic,” she said.
January further revealed DPF were committed to extending their services and offerings not only to members but to their families as well.
“This has been achieved through product line extensions, which include amongst others, Mmila Preservation Fund and Mmila Beneficiary Fund offered by Mmila Fund Administrators. We are not only delivering growth for our members but we are putting even greater focus on our members’ needs as we strive to be member centric and improve on solutions offerings. This includes revamping our annuity products and introducing new options to meet the diverse needs of our members and their beneficiaries,” she explained.
For his part, DPF Investment Manager, Thato Norman noted the fund’s growth is strengthened by a diversified portfolio that seeks to invest across different asset classes.
“Therefore, the unprecedented monetary and fiscal policy stimulus driven by governments and central banks across the world provides much needed tailwind to asset prices, more especially global equities which have reached a new historic high,” declared Norman.
Established in 1984, DPF seeks to meet future benefit obligations, earn positive investment returns and remain financially sound at all times for its members.
As it stands, the fund currently provides pension management services to all employees of Debswana Group of companies, with 5, 959 active members, 2, 009 deferred members and 4, 477 pensioners.