✨ Financial Statements Notes
2 AUGUST 2010 NEW ZEALAND GAZETTE, No. 93 2481
Notes to the financial statements
in New Zealand Dollars ($'000's)
18 Financial instruments (continued)
Interest risk – 2010
Interest rate risk at 31 March 2010 occurs in the following investment:
| Carrying amount $'000 | Percentage covered by interest rate swaps | |
|---|---|---|
| New Zealand cash | 96,475 | - |
| New Zealand fixed interest | 144,563 | - |
| Global bonds | 39,311 | - |
| Emerging market debt | 24,175 | - |
| Alternative Assets | 3,872 | - |
| 308,396 |
Interest risk – 2009
Interest rate risk at 31 March 2009 occurs in the following investment:
| 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 | - |
| 334,893 |
Interest rate risk was managed in the comparative period by cross currency interest rate swaps. At 31 March 2010 the Group had no interest rate swaps denominated in Australian dollars (2009: A$10,000,000), or Euros (2009: €4,000,000).
Capital management
The Group’s capital includes Core Real Capital Base Reserve, Accumulated Income Reserve and Capital Base Reserve.
The Group’s policy is to maintain a strong capital base so as to maintain investor confidence and to sustain future development of the Trust.
The Group is not subject to any externally imposed capital requirements.
The Group’s policies in respect of capital management and allocation are reviewed regularly by the Board of Trustees.
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NZ Gazette 2010, No 93
✨ LLM interpretation of page content
💰
Canterbury Community Trust Financial Statements Notes
(continued from previous page)
💰 Finance & Revenue5 July 2010
Financial Instruments, Interest Rate Risk, Investment, Interest Rate Swaps, Capital Management, Canterbury Community Trust