Kina Securities to administer largest PNG super fund

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The Finance News Network has reported that Kina Securities (ASX:KSL) has announced it will be providing funds administration services to the National Superannuation Fund of Papua New Guinea (NASFUND).

NASFUND is the largest superannuation Fund by member size in Papua New Guinea – with over 543,000 members, and total assets of $A1.66 billion.

The company says this mandate consolidates its position as PNG’s largest superannuation administrator.

This new deal brings Kina Fund’s total Funds Under Administration to $3.93 billion on behalf of over 700,000 members.

Kina reported a net profit of $8.7 million at 30 June 2016.