10 Aug 2021

Botswana Public Officers Pensions Fund (BPOPF) has realised its greatest one year growth as its assets under management grew from around P67 billion to over P83 billion during 2020/21.

  Briefing the media on Monday, BPOPF chief executive officer, Mr Moemedi Malindah said the active portfolio also grew from P59 billion to P75 billion.

  The drivers of the growth were offshore equities which grew from P34.8 billion to P50 billion, he said.

  Mr Malindah said the profit pensioner portfolio grew by seven per cent from P4.4 billion to P4.57 billion.

The non-profit pensioner portfolio grew by 20 per cent from P2.89 billion to P3.48 billion which he said was attributable to aggressive diversification of the portfolio.

 BPOPF board of trustees chairperson Mr Solomon Mantswe said declared interest stood at 23.3 per cent for active members and deferred pensioner portfolio compared to the negative one per cent declared the previous year.

  As for the pre-retirement switch portfolio, the board declared a 3.8 per cent interest compared to the 4 per cent declared the year prior.

 Mr Mantswe further said 7.1 per cent was declared for the profit pensioner portfolio compared to last year’s zero per cent while non-profit pensioner portfolio received between zero and 7.5 per cent.

  He said another significant milestone achieved during the course of the year was completion of the fund administration outsourcing project and the appointment of NMG Botswana as administrators.

  Mr Mantswe said the board also achieved 100 per cent compliance with respect to customer due diligence as well as reconstitution of the board which resulted in increase of its composition.

Among other achievements he mentioned completion of the organisational restructuring project and implementation of the impactful investor agenda which saw the fund going to the market with new products.

 Chairperson of BPOPF Risk Committee Ms Rutang Moses said the organisation’s performance had been resilient in the face of COVID-19 pandemic.

  Its impact had been felt mainly on the fund’s daily operations, she said.

  Ms Moses said the fund continued to implement strategies to safeguard investments and avail services to its clients. ends