✨ Financial Statements
NEW ZEALAND GAZETTE, No. 130
2 SEPTEMBER 2009
THE COMMUNITY TRUST OF SOUTHLAND
NOTES TO & FORMING PART OF THE FINANCIAL STATEMENTS
For the Year Ended 31 March, 2009
10. MANAGED FUNDS
The Group has funds with six investment managers (Fund Managers) as follows:
- Alliance Bernstein
- AMP Capital Investors
- Capital International
- First New Zealand Capital
- Pacific Investment Management Company (PIMCO)
- Tyndall Investment Management
During the year PIMCO replaced Tower Asset Management as fund manager for overseas fixed interest securities.
The fair value of the Managed Funds investments as at balance date was as follows:
| Group & Parent | Alliance Bernstein $000 | AMP Capital $000 | Capital International $000 | First NZ Capital $000 | PIMCO $000 | Tyndall Investment $000 | Total $000 |
|---|---|---|---|---|---|---|---|
| Australasian Equities | 12,962 | 13,462 | 11,658 | 13,962 | - | - | 27,424 |
| Overseas Equities | - | 24,620 | 24,620 | ||||
| NZ Fixed Interest | 39,878 | 50,108 | - | 39,878 | |||
| Overseas Fixed Interest | 50,108 | 50,108 | |||||
| Property Equities | 4,787 | - | - | 4,787 | |||
| Foreign Exchange contracts | (432) | - | (432) | ||||
| Cash | 3,740 | 8,740 | 8,740 | ||||
| Total | 12,962 | 13,462 | 11,658 | 18,749 | 50,108 | 48,186 | 155,125 |
The fair value of the Managed Funds investments as at 31 March 2008 was as follows:
| Group & Parent | Alliance Bernstein $000 | AMP Capital $000 | Capital International $000 | First NZ Capital $000 | Tower Asset Management $000 | Tyndall Investment $000 | Total $000 |
|---|---|---|---|---|---|---|---|
| Australasian Equities | 18,572 | 16,549 | 13,875 | 18,277 | - | 34,826 | 34,826 |
| Overseas Equities | 32,447 | 32,447 | |||||
| NZ Fixed Interest | 24,943 | 54,892 | 24,943 | ||||
| Overseas Fixed Interest | 54,892 | 54,892 | |||||
| Property Equities | 6 | 7,090 | 7,096 | ||||
| Foreign Exchange contracts | 6 | ||||||
| Cash | 26,599 | 26,599 | 26,599 | ||||
| Total | 18,572 | 68,097 | 13,875 | 25,367 | 54,892 | Nil | 180,803 |
Exposure to currency, interest rate and credit risk arises in the normal course of the fund managers management of the Managed Funds. A range of hedging policies are in place whereby the fund managers use derivative financial instruments as a means of managing exposure to fluctuations in foreign exchange rates and interest rates. While these financial instruments are subject to the risk of market rates changing subsequent to acquisition, such changes would generally be offset by opposite effects and the items being hedged.
Next Page →
NZ Gazette 2009, No 130
✨ LLM interpretation of page content
💰
Community Trust of Southland Financial Statements
(continued from previous page)
💰 Finance & RevenueCommunity Trust, Southland, Financial Statements, Investments, Interest Rates, Listed Entities, Unlisted Entities, Short Term Deposits, Managed Funds, Fund Managers, Alliance Bernstein, AMP Capital Investors, Capital International, First New Zealand Capital, Pacific Investment Management Company (PIMCO), Tyndall Investment Management, Tower Asset Management, Australasian Equities, Overseas Equities, NZ Fixed Interest, Overseas Fixed Interest, Property Equities, Foreign Exchange contracts, Cash