✨ Financial Statements
19 AUGUST 2009 NEW ZEALAND GAZETTE, No. 122 2825
Notes to the financial statements (continued)
In New Zealand Dollars ($000’s)
13 Financial instruments (continued)
Quantitative disclosure
Credit and interest rate risk
The carrying amount of financial assets represents the Trust’s maximum credit exposure.
The Trust’s maximum exposure to credit risk for investments by geographic regions and investment type and to information relating to the interest rate risk is as follows:
| Carrying amount | 2009 | 2008 |
|---|---|---|
| New Zealand cash | 13,159 | 8,738 |
| New Zealand equities | 4,105 | 5,280 |
| Collateralised commodity futures | -- | -- |
| Global bonds | 58,605 | 59,272 |
| Global equities | 28,140 | 45,236 |
| Global property | 2,576 | 6,043 |
| Hedge fund of funds | 2,718 | 6,852 |
| Total financial assets | 109,304 | 131,471 |
Management of the interest rate risk is performed by the fund managers by use of interest rate swaps.
The average interest rate is determined inclusive of interest rate swaps that are embedded with the funds.
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NZ Gazette 2009, No 122
✨ LLM interpretation of page content
💰
BayTrust Annual Report for 2008-2009
(continued from previous page)
💰 Finance & Revenue9 July 2009
Financial Instruments, Credit Risk, Interest Rate Risk, Investment Types, Geographic Regions