APS 2021 annual report shows solid growth and comfortable coverage ratio
APS also published its Annual Report 2021 in a condensed ‘pocket version’
Cayhill, Sint Maarten, 27 July, 2022: For the fourth consecutive year, Algemeen Pensioenfonds Sint Maarten (APS) published its annual report, four (4) months ahead of the legally binding annual deadline. Highlights include the 7.3% growth of invested assets (an increase of ANG 51 million in 2020 to ANG 62 million in 2021). APS closed 2021 with a coverage ratio of 104.2%, which means that the Funds’ reserves are enough to guarantee the payment of future pensions. At the end of 2020, the coverage ratio was 101.9%.
The year 2021 was as the previous year still marked by the COVID-19 pandemic, which affected economies adversely worldwide. However, due to risk mitigation and diversified investments yielding results in the long term, APS’ investment portfolio presented a solid result and a better coverage ratio than the previous year at the end of 2021. Predominantly, the more than satisfactory performance of the international investment portfolio contributed to the positive year-end results. Compared to 2020, both the growth of the investment portfolio and the coverage ratio have increased.
‘APS is proud to share its 2021 results, but at the same time we have to take into account the global downturn in markets resulting from the still lingering Covid-19 pandemic and the war in Ukraine, which in 2021 had not yet notably impacted the economy. Therefore, APS will remain extra vigilant, to mitigate and anticipate the current and imminent risks in order to continue to safeguard the pensions for Sint Maarteners now and in the future’, said APS Director Nadya Croes-Van Putten.
For the first time, APS also published a ‘pocket version’ of the annual report, which recaps the Fund’s most essential financial results in a compact overview. APS’ 2021 financial statements, both the full and abbreviated versions, are available online via apsxm.org/annualreports.