✨ Financial Statements
THE COMMUNITY TRUST OF SOUTHLAND
NOTES TO & FORMING PART OF THE FINANCIAL STATEMENTS
For the Year Ended 31 March, 2008
10. MANAGED FUNDS
The Group has funds with five investment managers (Fund Managers) as follows:
- Alliance Bernstein
- AMP Capital Investors
- Capital International
- First New Zealand Capital
- Tower Asset Management
The fair value of the Managed Funds investments as at balance date was as follows:
| Alliance Bernstein $000 | AMP Capital $000 | Capital International $000 | First NZ Capital $000 | Tower Asset Management $000 | Total $000 | |
|---|---|---|---|---|---|---|
| Australasian Equities | 16,549 | 18,277 | 34,826 | |||
| Overseas Equities | 18,572 | 13,875 | 32,447 | |||
| NZ Fixed Interest | 24,943 | 24,943 | ||||
| Overseas Fixed Interest | 54,892 | 54,892 | ||||
| Property | 7,090 | 7,090 | ||||
| Cash | 26,605 | 25,367 | 26,605 | |||
| Total | 18,572 | 68,097 | 13,875 | 25,367 | 54,892 | 180,803 |
The fair value of the Managed Funds investments as at 31 March 2007 was as follows:
| Alliance Bernstein $000 | AMP Capital $000 | Capital International $000 | ING (NZ) Limited $000 | Tower Asset Management $000 | Total $000 | |
|---|---|---|---|---|---|---|
| NZ Equities | 20,997 | 20,997 | ||||
| Overseas Equities | 37,273 | 35,338 | 72,611 | |||
| NZ Fixed Interest | 23,507 | 23,507 | ||||
| Overseas Fixed Interest | 50,233 | 50,233 | ||||
| Property | 881 | 881 | 881 | |||
| Cash | 10,762 | 15,999 | 26,761 | |||
| Total | 37,273 | 35,150 | 35,338 | 36,996 | 50,233 | 194,990 |
Exposure to currency, interest rate and credit risk arises in the normal course of the fund managers management of the Group investments. 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.
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NZ Gazette 2009, No 29
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Financial Statements of The Community Trust of Southland
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💰 Finance & Revenue26 November 2008
Financial Statements, Community Trust, Southland, Managed Funds, Investments, Fair Value