The office of the Cook Islands National Superannuation Fund now submits to members the CINSF Annual Report and Financial Accounts for the year ending December 2018.
In summary the Funds total net assets have grown by $10m from $146.8m in 2017 to $156.8m in 2018. Combined contributions increased by $0.7m from $14.9m in 2017 to $15.6m in 2018. Benefit Payments were $3.4m, up from $2.5m in 2017. The Funds expenses remained stable with a minor increase of $0.1m. 1223 new members joined the Fund bringing total membership to 11,499 at the end of 2018, and pensioners also increased to 232 at the end of 2018.
The declared returns to members for 2018 are set out below:
CINSF Conservative Fund -1.90%
CINSF Balanced Fund -5.10%
CINSF Growth Fund -7.10%
The Investment Fund returns are a combination of the change in market value plus any distributions, which are reinvested back into the Funds. In the later months of 2018, the impact of the negative returns on global shares, adversely impacted the returns on the Russell Investments Global Opportunities Fund – $NZ Hedged and therefore the Fund overall, resulting in the negative declared returns across the three investment options.
Individual statements are now being prepared for delivery to members, and we would like to encourage all our members to review their account statements, the investment option they are currently in, and their risk appetite to ensure they are investing their money in the Fund most suitable to them.
Please click on the file below to download and view: