Page 20 - NIB Annual Report 12-13 | 13-14

when markets trended higher.
The Domestic Investments segment of the portfolio containing socio-economic loans and a TCIG bond generated over $200k in interest payments in both 2012/13 and 2013/14, producing return on principal above the required return. Domestic investments represented 2.38% (2012/13) and 1.82% (2013/14) of the Fund. As the loans and principal of the
bond is paid down, the Board is actively engaged in finding suitable local projects to invest in up to a level of 10% of the Fund.
The portfolio held one local investment in Real Estate (i.e. the NJS Francis Building in Grand Turk) up until October 2013. Subsequently, no Real Estate investments were added to the portfolio.
The chart to the left illustrates the return per asset class over the two year period.
In evaluating the investment performance over the two year period, the Fund’s underweight position in Fixed Income proved beneficial especially in 2013/14 when yields started to rise. While U.S. and
International indices delivered returns in the mid-high teens, the NIF’s equity portfolio was challenged in beating some of the style benchmarks. The addition of Alternative Investments helped to support investment return. While the Fund has an allocation to cash, the impending revision to the strategic asset allocation and rebalancing will bring Cash more in line with its strategic target and place funds to work in more rewarding asset classes.
Human Resource
During the period, we continued to invest in our staff, our most valuable resource.
There are a number of employees involved in tertiary education, both locally at the TCI Community College and internationally via online studies.
Additionally, we organized training for all staff in the areas of Customer Service, Team Building, Conflict Resolution, Microsoft Excel and Microsoft Outlook.
Staff actively participated in all training and assessed the initiatives as being successful.
Training
1. Team Building (All Staff)- Facilitated by: Yolande Robinson of Learn & Lead Educational Center • Grand Turk- November 1, 2012
• Providenciales- November 5/ 6, 2012
2. Team Building for Manager & Supervisors
• Grand Turk- November 3, 2012
3. Customer Service Workshop (All)- Facilitated by: Mrs. Sophia Thomas, Fenelon Empowerment Services • Grand Turk- January 15, 2013
• Providenciales- January 16, 2013
• Providenciales- January 17, 2013
4. Data Entry Supervisors Cross Training
• August 27th to 31st, 2012- Denise Bovie and Karen Gardiner
5. Benefit Training for Provo Customer Care Officers- Facilitated by: Claim Adjudicator • August 7th to 9th , 2012 – Pamelar Jolly
• September 11th to 13th, 2012- Ronald Seymour
6. Conflict Management (All Staff)- Facilitated by: Yolande Robinson of Learn & Lead Educational Center • Grand Turk- March 4, 2014
• Providenciales- March 5-6, 2014
16 | The National Insurance Board of The Turks and Caicos Islands