Investment options for CINSF members

Saturday June 20, 2015 Written by Published in Economy

THE COOK Islands National Superannuation Fund (CINSF) will be running a series of public presentations next week to explain the new investment options for its members which will be available from July 1.

The Fund is now preparing for the launch of three new investment options for members to choose from.

In outlining the new choices, CINSF chief executive officer Damien Beddoes says this has been built on a presentation by the CINSF, the trustee and investment managers and feedback from members at the Members General Meeting held in October last year.

The three investments options include CINSF Conservative Fund, CINSF Balance Fund and CINSF Growth Fund.

Beddoes says members will have the ability to invest on three different levels of risk and potential returns.

These funds will see a variation in the proportion of funds held in growth assets (equities) and income assets (cash, fixed interest and bonds). 

“The conservative fund (default) mirrors the existing portfolio that the fund has invested in since 2010, thirty per cent will be invested in growth assets and 70 per cent invested in income assets,” Beddoes says.  

“The balanced fund will consist of 60 per cent in growth assets, and 40 per cent in income assets. 

“The growth fund will consist of 80 per cent invested in growth assets, and 20 per cent invested in income assets.”

Members will be able to diversify the current balance of their investment across the range of funds or leave it all in one fund. 

Members can also determine from their regular employee and employer contributions if they would like to split their contributions between the funds.

“Pensioner accounts will remain invested in the conservative fund, however any voluntary contribution accounts they maintain in the CINSF, can be invested within any of the new funds.”

Public presentations are planned for each vaka starting with Vaka Te-Au-Tonga on Monday, June 22 at the AOG Hall, Vaka Takitumu at CICC Hall on Tuesday, June 23, Vaka Puaikura at CICC Hall on Wednesday, June 24 and Aitutaki on Thursday, June 25.

All presentations will begin at 5pm. 

The public presentations will be made by the CINSF office with Russell Investments Head of Investment Services, Fiona Lintott. 

A full copy of the new Members Handbook will be available to be downloaded at or collected from the CINSF office from July 1. 

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