An asset class is a similar group of securities or assets that share common characteristics
A standard against which the performance of a security, index, or investment fund can be measured.
The Board of the National Superannuation Fund.
A debt investment with which an investor loans money to an entity (company or government) that borrows the funds for a defined period of time at a specific interest rate.
Generally taken to mean a very short-term investment earning interest from a highly rated bank.
Tangible products, such as metals, crude oil or grain.
Combination of a Member’s Employer and Employee Contribution Accounts
A non-resident of the Cook Islands working on an employment contract of not more than 3 years.
An Arrangement or Product whose value derives from and is dependant on the value of an underlying asset such as a commodity, currency, or security. Derivatives can be used to manage risk, reduce cost, and enhance returns.
Is a process of allocating capital in a way that reduces the exposure to any one particular asset or risk. Diversification may help mitigate risk or volatility by investing in a variety of assets.
Early Retirement Age
Where a Member aged between 55 and 60 ceases employment as a result of ill-health or redundancy.
More commonly known as shares or stocks. Securities that signify ownership in a Corporation and represents a claim on part of the corporation’s assets and earnings.
A term used to describe investments that generate income in the form of agreed interest payments over an agreed period of time.
In the portfolio, growth assets comprise equities.
Group Life Insurance Policy
Means the current insurance policy arranged by the Trustee.
Where a Member has been absent from employment through illness for 6 consecutive months and is unlikely to ever engage in employment for reward in any occupation.
A measure of performance of a collection of assets typically across a sector, country, region or style (e.g. Dow Jones, MSCI)
A Member’s choice of investment in any one or any combination of the three CINSF Investment Funds.
The minimum and maximum allocations a Trust can give to a given asset class.
Legal Personal Representative
Means a person appointed to administer a deceased person’s estate or to manage the financial affairs of a person when that person is unable to do so.
Normal Retirement Age
Means 60 years of age.
Old Age Pension
Any pension payable under the Welfare Act 1989.
Excess performance above the benchmark or above the targeted return.
The account created by the transfer of all funds in a Compulsory Account on the date of a Member’s nominated retirement age.
The rate applied by the Trustee on the recommendation of an Actuary for the calculation of a Member’s retirement, early retirement or a spousal pension.
The allocation of risk in a portfolio. Portfolio construction embraces the broad allocation of risk capital to various value-add strategies as well as the specific allocations of risk capital to investments.
The return on an investment after manager fees and taxes.
Is a term used to imply the uncertainty of a return, and the potential for financial loss.
A term typically used to describe an ownership interest in a company. Shares are also known as equities.
Statement of Investment Policies and Objectives sets out the portfolio construction, benchmarks, and investment objectives.
Total and Permanent Disablement
Where a Member has been absent from employment through injury or illness for 6 consecutive months having become incapacitated to such an extent as to render the Member unlikely to ever engage in employment for reward in any occupation or work for which the Member is reasonably qualified by education training or experience.