Debswana Pension Fund, a leading private defined contribution pension fund, which was established in October 1984, as a joint initiative of the Debswana Group of Companies on Monday this week briefed the media on the Fund’s Performance and further updated key projects the Fund is currently undertaking.
January, the DPF CEO, noted that over the past years, the Fund’s Assets Under Management (AUM) grewexponentially, and in the process securing members’ futures through sustainable superior returns amidst the challenging environment and uncertainties brought about recently by the COVID-19 Pandemic.
She revealed that DPF is currently at P 9.79 billion with 12465 Members (5959 active members, 2009 deferred members and 4477 Pensioners) and is poised to reach the P 10 billion mark as its various investments continue to grow. “This growth can be attributed to the Fund’s robust and well diversified Investment Strategy that has been able to weather through periods of economic uncertainties,” she said.
In addition to delivering year-on-year growth for their members, as a Fund, they are putting greater focus on member needs as they strive to become member centric and improve on their solution offering which includes, revamping their annuity products and introducing new options to meet the diverse needs of their members and their beneficiaries.
“As a Fund we believe that it is imperative that we extend the service and offerings to not only benefit the member but also their families as well. This has been accomplished through the product extension that includes amongst others, Mmila Preservation Fund and Mmila Beneficiary Fund being offered by Mmila Fund Administrators,” she added.
Debswana Pension Fund Investment Manager, Thato Norman, highlighted that the Fund’s aggregate growth is underpinned by a well-diversified portfolio, which seeks to invest across different asset classes with low levels of correlation. Against this background, the unprecedented monetary and fiscal policy stimulus driven by governments and central banks across the globe provided a much needed tailwind to asset prices, in particular global equities which have reached new historic highs.
In closing, Norman stated that Debswana Pension Fund remains cautiously optimistic and mindful of external shocks to the global and domestic economy. Furthermore, he highlighted that the Fund has a resilient investment strategy that continues to withstand different economic and market cycles. In particular, he noted that Botswana would benefit from the broadening global economic recovery and improving commodity markets which play a significant role in the country’s economy.
The Debswana Pension Fund (DPF) is a Botswana based defined contribution pension fund established in 1984 as a Trust through a joint initiative between De Beers Botswana Mining Company (now Debswana), Anglo American Corporation Botswana (Pty) Ltd and De Beers Prospecting Botswana (Pty) Ltd. Currently the Fund provides pension management services to all employees of the Debswana group of companies, namely DPF, Debswana Diamond Company, Morupule Coal Mine, De Beers Holding Botswana, De Beers Global Sightholder Sales ,Diamond Trading Company Botswana and Mmila Fund Administrators. The primary purpose of the Debswana Pension Fund is to meet future benefit obligations to members as defined by the rules of the Fund, earn positive investment returns on member funds and remain financially sound at all times. The DPF is currently the leading Pension Fund in the private sector by size and value.