From January 2023, the CINSF Default Fund will change from the Conservative Fund to the Balanced Fund for existing Default Fund members.
Why is the Default Fund changing?
The reason for the change in the Default Fund is to provide members who have not made an investment direction, with an improved longer-term opportunity for higher investment returns.
Who are the Default Fund members?
Default Fund members are those members that have never made an investment direction (selected the fund or funds they wish to be invested in) or have chosen the Default Fund in their application forms.
What is the Balanced Fund?
The Balanced Fund invests in a mix of growth and defensive assets and aims to generate medium to high returns with medium to high risk.
What do I have to do?
If you have never made an investment direction (selected an investment option when you joined the CINSF, or completed an investment switch form), then you are in the current (Conservative) Default Fund. From January 2023 you will be automatically moved from the old (Conservative) Default Fund to the new (Balanced) Default Fund.
Can I opt out of the change?
All members continue to have the option to make an investment direction. If you do not want to be moved, and would like to select your own investment direction, please visit the CINSF office and complete and Investment Switch form.
Current Default Fund members will have until 31 December 2022 to opt out of the change.
Will the CINSF team be conducting presentations on this?
Yes. The CINSF will be conducting presentations on this change to members from November 2022. This is vital in helping members understand their investment choices and reasons for the change.