CEO Damien Beddoes explained that the strong level of member contributions combined with the performance of the financial markets, particularly in the growth assets of the portfolio, have helped the fund surge to $100m in value.
With declared returns of 14.13% in 2012, 8.86% in 2013, and an expected final return in excess of 10% for 2014, CINSF members are enjoying significant growth in what is considered a conservative investment portfolio.
Beddoes continued to explain that whilst the returns have been strong, the fund still maintains a level of risk that can from time to time deliver a negative return, and cautions members not to expect double digit returns every year, but instead to continue to focus on the long term nature of the fund to provide for members in retirement.
Member statements are due to be distributed before the end of June reflecting the positive returns, and the Annual Report and Financial Accounts will be available to be downloaded from the CINSF website or for those members without internet access a copy can be obtained from the CINSF office from 30 June.
Damien Beddoes
CEO
