SIL fund value rises 69 p.c.

Press, 21 November 1981, Page 19

SIL fund value rises 69 p.c.

Superannuation Investments, Ltd. has increased the value of its fund by 69 per cent to $14.9 million for the August 31 vear. After allowances for fees and expenses the fund achieved a return of 20.3 per cent. The directors report that the main adjustment to the fund’s portfolio was the further investment in property. Three property purchases were completed during the year and since balance date interests have been bought in two further properties. Share prices have fallen on both sides of the Tasman since balance date, but ren-

tals are steadily appreciating which is reflecting through in the value of property held, the directors say. Interest > income totalled $786,531 (previously $414,451) and the net cash income from rents was $105,627 ($63,869). Net profit realised on investment portfolio transactions was $192,668 ($111,722). The market value of fixed interest investments held by the fund totalled $8,097,711 ($5,014,066); company shares and convertible securities were worth $4,653,982 ($2,902,903). The-value of property held was $2,006,708 ($738,000).