Super Fund worth close to $145m

Monday March 05, 2018 Written by Published in Economy

The members’ stake in the Cook Islands National Superannuation Fund is worth close to $145 million, according to the latest Fund performance as at January 31, 2018.

 

The conservative fund balance stands at $141,165,085, balanced fund at $2,244,903 and growth fund at $1,451,733, totaling to $144,861,721.

The latest figure has seen an increase of about $3m from the net worth of $141,398,597 estimated at the end of December, 2017.

CINSF said the Fund performance update for the month of January recorded member investments’ for the month.

“For members that have selected the new funds, we would like to reinforce our guidelines that these funds are for medium to long term investors that have completed their risk profiles and understand that markets rise and fall but take a longer term approach to investing for their retirement,” the Fund said.

The conservative fund invests in a high proportion of income assets (like bonds). This means that returns are likely to be lower over the longer term than a fund with a larger proportion of growth assets (like shares).

There may be some movements up or down in the value of the retirement savings. Returns can vary and at times may be low or negative.

An investment in the conservative fund is usually best if members have a short time until they retire, or a low tolerance for risk.

The balanced fund invests in a higher proportion of growth assets (like shares). This means that there will be more movements up or down in the value of the retirement savings than an investor in the conservative fund will have.

Returns can vary and at times may be low or negative. An investment in the balanced fund may be preferable if members have seven to 10 years until retirement. The growth fund invests in a high proportion of growth assets (like shares). This means that there will be more movements up or down in the value of the investments, but with bigger potential gains than the other funds over the long term (10 years plus).

Returns will vary and be low or negative at times. The growth fund may be preferable if members have a long time to retirement, or an appetite for higher risk.

In the second quarterly report released in June last year, the Fund recorded a continued membership growth with 294 new members during the period bringing the total membership to 10,061.

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