✨ Financial Statements
NEW ZEALAND GAZETTE, No. 127
14 AUGUST 2008
During the year, the trust reviewed its investment strategy and at 31 March 2008, the policy is to achieve a long term asset allocation of:
| Asset Class | Allocation |
|---|---|
| New Zealand equities | 10.00% |
| New Zealand fixed interest | 10.00% |
| New Zealand cash | 0.00% |
| Global equities | 27.50% |
| Global fixed interest | 40.00% |
| Global listed property | 7.50% |
| Collateralised commodities futures | 5.00% |
| Total | 100.00% |
The trust’s actual asset allocation during the year has reflected the gradual transition from the old policy to the new.
Details of the significant accounting policies and methods adopted, including the criteria for recognition, the basis of measurement and the basis on which income and expenses are recognised, in respect of each class of financial asset, financial liability and equity instrument, are disclosed in note 1 to the financial statements.
The following table summarises the sensitivity of the trust’s financial assets and liabilities to interest rate risk, foreign exchange risk and equity price risk.
31 March 2008
| Interest rate risk | Foreign exchange risk | Equity price risk | |
|---|---|---|---|
| –1% | +1% | –10% | |
| Surplus $'000 | Equity $'000 | Surplus $'000 | |
| --------------------------- | --------------- | --------------- | --------------- |
| Financial assets | |||
| Derivative financial | |||
| instrument | (620) | – | – |
| Assets recorded at fair | |||
| value through the | |||
| profit or loss (FVTPL) | 240,538 | (1,562) | (1,562) |
| Total increase/ | |||
| (decrease) | (1,562) | (1,562) | |
31 March 2007
| Interest rate risk | Foreign exchange risk | Equity price risk | |
|---|---|---|---|
| –1% | +1% | –10% | |
| Surplus $'000 | Equity $'000 | Surplus $'000 | |
| --------------------------- | --------------- | --------------- | --------------- |
| Financial assets | |||
| Derivative Financial | |||
| Instrument | 2,067 | – | – |
| Assets recorded at fair | |||
| value through the | |||
| profit or loss (FVTPL) | 245,827 | (1,553) | (1,553) |
| Total increase/ | |||
| (decrease) | (1,553) | (1,553) | |
The following financial assets have been recognised in the financial statements of the trust.
| Notes | 2008 NZ$'000 | 2007 NZ$'000 |
|---|---|---|
| Enhanced passive global | ||
| equities | 66,775 | 69,724 |
| Denominated in the | ||
| following currencies: | ||
| Canadian dollar | ||
| equivalents | 2,965 | 2,675 |
| Danish krona equivalents | 401 | 380 |
| Euro equivalents | 12,427 | 11,916 |
| Great Britain pound | ||
| equivalents | 7,192 | 8,252 |
| Hong Kong dollar | ||
| equivalents | 694 | 582 |
| Japanese yen equivalents | 6,824 | 7,683 |
| New Zealand dollars | 47 | 129 |
| Norwegian kroner | ||
| equivalents | 381 | 380 |
| Singapore dollar | ||
| equivalents | 427 | 438 |
| Swedish krona equivalents | 795 | 869 |
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NZ Gazette 2008, No 127
✨ LLM interpretation of page content
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Notes To and Forming Part Of the Financial Statements for The Waikato Community Trust Incorporated
(continued from previous page)
💰 Finance & RevenueFinancial Assets, Property Plant and Equipment, Capital Commitments, Contingent Liabilities, Profit and Loss, Cash Flows, Financial Instruments, Risk Management