Positive return for HESTA

HESTA, the $4 billion super fund for health ad community services, has declared a +1.5% return on its balances Core Pool option for 2002-2003.

The result means that Core Pool, HESTA's default fund, has never declared a negative annual return in 15 years snce its inception in 1987.

"Although returns on super generally have hit an historical low in the past two years and many funds have even been negative, HESTS has continues to deliver positive annual returns and that's good news for members," said HESTA's CEO, Anne-Marie Corboy. "Although past returns are not a reliable indicator of future performance, the fact that Core Pool has continued to deliver positive returns in tough market conditions is an indication that sticking to our diversified long-term plan through the rough times has paid off.