PNG ECONOMICS BULLETIN

The Nasfund Board today announced the  appointment of Ms. Tamzin Wardley as the Fund’s new Chairperson from the 1st October 2022.   Ms. Wardley has over 20 years of Financial and corporate governance experience.   She has been an independent director on the Board since 2017. She is currently Deputy Chair, and Chair of the Fund’s Investment Committee.   While welcoming  appointment, the Board acknowledged the leadership of the outgoing Chairman, Charles Vee and thanked him for oversighting balance sheet growth, year on year profitability, focus on member services and strengthening relationships with key stakeholders during his tenure since June 2019.   “Despite economic challenges and Covid19 impacts, under Mr. Vee’s watch, fund membership grew by 9.4% to over 640,000 contributors while annual crediting rates averaging 5.7% and equating to over K898 million were paid to member superannuation accounts since 2019. The Fund also rebranded its corporate image as part of its positioning for the future with the tag line, “Ready for tomorrow”, the largest private sector superfund said in a statement.   Charles Vee was appointed to the Board in July 2016 as an Independent Director and initially served as Chairman Remuneration & Nomination Committee, Deputy Chairman and Chairman since June 2019.   Charles Vee said, “I am satisfied with the role I have played in leading the Board and Nasfund to where we want it to be today and into the future. The change in the Board leadership, now under Tamzin Wardley, a naturalized citizen and long term PNG resident, ensures continuity and stability on the way forward. Our primary mandate of ensuring safety and security of members’ funds is paramount but there are investment opportunities on the horizon we are interested in that not only provides an adequate return for members but contributes to nation building.”   Mr. Vee remains on the Board as an ordinary director and will oversee implementation of specific strategic projects currently in the pipeline.