Signing Ceremony of the IMA document – Hilton Hotel, Port Moresby
Ok Tedi Development Foundation (OTDF) as Statutory Manager of the future generation funds for the eight Community Mine Continuation Agreement (CMCA) Trust regions facilitated the signing of the Investment Management Agreement (IMA) between the leaders representing the 8 CMCA Trust and Kina Wealth Management Limited (KWML).
The Agreement, signed in Port Moresby, formalizes the appointment of Kina Wealth Management Limited as the exclusive Investment Manager of the CMCA Trust Investment Portfolios. Kina Nominees Limited will act as Custodian, safeguarding assets in accordance with the Trusts’ investment objectives.
The IMA outlines a conservative, transparent, and compliance-focused investment strategy aimed at delivering sustainable returns to the beneficiary communities of the CMCA regions of Western Province. The portfolios will be directed toward investment into secured assets such as Government Bonds and Bills, and high-performing blue-chip equities on the PNG and Australian stock exchange, with strong governance and reporting mechanism through quarterly and annual reporting.
Mr. Ivan Vidovich, Group CEO & Managing Director of Kina Securities Limited, remarked: “We are honoured to be entrusted with managing the CMCA Trusts investment portfolios. At Kina, we are committed to delivering professional fund management that aligns with the Trusts’ values and objectives. This agreement reflects our shared commitment to building lasting economic value for the CMCA communities through disciplined and transparent investment practices.”
Mr. Jesse Pile, Chairman of the OTDF Board, said: “Today’s signing is a pivotal milestone for the CMCA Trusts. This agreement strengthens the governance and integrity of how these community assets are managed. It is a demonstration of OTDF’s commitment to ensuring that every kina is accounted and better managed for the future of the mine associated communities of Western Province.”
Mr. Andrew Mari, Acting CEO of OTDF, added: “This partnership ensures a professionally managed, well-diversified investment approach that aligns with the aspirations of our CMCA beneficiaries. It is a critical step towards achieving long-term sustainability and growth of the trust funds under OTDF’s management.”
The IMA is effective from 30 April 2025 and remains in place unless terminated by mutual agreement or under specific provisions outlined in the Agreement.
This strategic collaboration marks a new chapter in the management of the CMCA Trust portfolios and ensures that the communities of Western Province continue to benefit from prudent, secure, and future-focused investment of their trust funds.