Encouraging participation

Wednesday June 24, 2015 Written by Published in Economy
Guest presenter Fiona Lintott, Russell Investments Head of Investor Services, with Cook Islands National Superannuation Fund CEO Damien Beddoes at The Islander Hotel yesterday (Tuesday). The two discussed investment options for members which will be available from July 1. Guest presenter Fiona Lintott, Russell Investments Head of Investor Services, with Cook Islands National Superannuation Fund CEO Damien Beddoes at The Islander Hotel yesterday (Tuesday). The two discussed investment options for members which will be available from July 1.

THE COOK Islands National Superannuation Fund (CINSF) is encouraging members to attend the public presentations on the new investment options for its members.

 

The presentation includes an explanation of each of the new investments, a guide to help select the best options for members, the process for members to make changes to their funds and the on-going contributions.

It also allows time for questions and answers.

From July 1, the Fund will launch 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.

The Conservative Fund (Default Fund) produce rates of return over time in excess of inflation by investing a small percentage of the assets in growth assets while keeping the probability of a negative return at low levels.

It aims to achieve investment returns after expected added value from the underlying investment fund net of fund manager fees that exceed the New Zealand Consumer Price Index (CPI), measured over rolling 3-year periods by 3.8 per cent per annum.

The level of risk in this investment is considered low and the risk of negative returns is six years in 100.

The Balance Fund produce returns in excess of inflation appropriate for a long-term (seven years plus) investment strategy for retirement.

It aims to achieve investment returns after expected added value from the underlying investment fund net of fund manager fees that exceed the New Zealand CPI, measured over rolling 3-year periods by 4.7 per cent per annum.

The level of risk in this investment option is considered moderate and the risk of negative returns is 18 years in 100.

The Growth Fund produce rates of return over time (10 years plus) well in excess of inflation by investing the majority of the assets in growth assets (e.g. equities).

It aims to achieve investment returns after expected added value from the underlying investment fund net of fund manager fees that exceed the New Zealand CPI, measured over rolling 3-year periods by 5.3 per cent per annum.

The level of risk in this investment option is considered high and the risk of negative returns is 23 years in 100.

The Conservative, Balance and Growth funds invest in a mix of investment funds offered by Russell Investment Management Limited and their related parties.

Russell Investment Management Limited (or a related party) is CINSF’s investment manager.

For more information on these new investment options, please contact the CINSF office on 25515. Today the members from the Fund will be at Vaka Puaikura – Calvary Hall at 5pm to run a presentation on these investments. 

Leave a comment