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New Zealand Gazette – 2010 – No. 103

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✨ Financial Statements Notes

Notes to the financial statements

in New Zealand Dollars ($000's)

18 Financial Instruments

The Trust has the following financial assets and liabilities:

Summary Financial Assets and Liabilities

Financial Assets	Managed by	2010	2009
Self Managed Funds
Cash at bank and on deposit	with 'Trading Banks'	5,758	181

| Investments Held by Fund Managers | | | |
| NZ Cash | AMP Capital NZ | 7,419 | 8,636 |
| NZ Fixed Interest | AMP Capital NZ | 20,002 | 45,056 |
| NZ Equities | Tower Asset Management NZ | 8,839 | 6,541 |
| Global Fixed Interest | Tower Asset Management NZ | 92,836 | 66,834 |
| Global Equities | Russell Investments Australia | 62,373 | 30,597 |
| Collateralised Commodities | State Street USA | - | 557 |
| Futures | Tower - Hedging | - | - |
| Fund of Hedge Funds | Russell Investment Ireland (part) | | |
| | Warakirri Asset Management Aust | | |
| | (part) | - | 1,944 |
| | Tower - Hedging | | |

| Total Financial Assets | 191,469 | 160,165 |
| |---------|---------|
| Total Financial Assets | 197,227 | 160,345 |

| Donations Payable | 6,615 | 8,659 |
| Trade Payables | 89 | 79 |
| Total Financial Liabilities | 6,704 | 8,738 |

Risks arising from the financial assets and liabilities are inherent in the nature of the Trust's activities and are managed by means of an ongoing process of identification, measurement and monitoring. The Trust is exposed to credit risk, liquidity risk, and market risk. Market risk includes risks around foreign currency, interest rates and pricing.

The Trust generally manages these risks in accordance with its Statement of Investment Performance Objectives (SIPO). The principle investment objectives are:

to maximise the total amount of donations which can be financed by the investment of the Fund over the long term;
to preserve the real capital of the Fund;
to maintain equity between present and future generations with respect to the amounts available for donations;
to maintain the highest degree of stability of investment earnings that is possible consistent with the preceding objectives;

Gazette.govt.nz — NZ Gazette 2010, No 103

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✨ LLM interpretation of page content

💰 Notes to the financial statements (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial statements, Cash equivalents, Trust funds, Trade payables, Financial instruments, Financial assets, Financial liabilities, Risks, Investment objectives

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