✨ Financial Statements Notes
4 AUGUST 2009 NEW ZEALAND GAZETTE, No. 112 2561
Notes to the financial statements
18 Financial instruments (continued)
The foreign currency risk of certain investments is managed within the fund. The Trust is unable to quantify the extent that this risk is managed.
In New Zealand Dollars ($000’s)
Interest risk - 2009
Interest rate risk at 31 March 2009 occurs in the following investments:
| Carrying amount $’000 | Percentage covered by interest rate swaps | |
|---|---|---|
| New Zealand cash | 89,140 | 25% |
| New Zealand fixed interest | 189,159 | - |
| Global bonds | 32,524 | - |
| Emerging market debt | 18,296 | - |
| Alternative Assets | 5,774 | - |
| Total | 334,893 |
Interest risk - 2008
Interest rate risk at 31 March 2008 occurs in the following investments:
| Carrying amount $’000 | Percentage covered by interest rate swaps | |
|---|---|---|
| New Zealand cash | 187,773 | 10% |
| New Zealand fixed interest | 103,619 | - |
| Global bonds | 32,883 | - |
| Emerging market debt | 22,431 | - |
| Alternative Assets | 18,926 | 21% |
| Total | 365,632 |
Interest rate risk is managed by cross currency interest rate swaps. At 31 March 2009 the Group had interest rate swaps denominated in Australian dollars of A$10,000,000 (2008: A$20,500,000), and Euros of €4,000,000 (2008: €9,000,000). In 2008 the Group also had New Zealand dollar denominated interest rate swaps of $30,000,000 and US dollar denominated swaps of US$2,000,000. At balance date the remaining term on the interest rates swaps did not exceed 2 years.
Next Page →
NZ Gazette 2009, No 112
✨ LLM interpretation of page content
🏢
Notes to the financial statements of The Canterbury Community Trust
(continued from previous page)
🏢 State Enterprises & Insurance6 July 2009
Trust Funds, Financial Instruments, Interest Rate Risk, Foreign Currency Risk, Interest Rate Swaps, Investment Management