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New Zealand Gazette – 2011 – No. 101

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✨ Financial Statements Notes

Otago Community Trust

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	2011	2010
Self Managed Funds
Cash at bank and on deposit with Trading Banks		2,554	5,758

Investments Held by Fund Managers
NZ Cash	AMP Capital NZ	7,730	7,419
NZ Fixed Interest	AMP Capital NZ	21,342	20,002
NZ Equities	Harbour Asset Management	9,423	8,839
Global Fixed Interest	Tower Asset Management NZ	97,826	92,836
Global Equities	Russell Investments Australia	65,101	62,373
Total Financial Assets		201,422	191,469

| Financial Liabilities | | | |
| Donations Payable | | 3,937 | 6,615 |
| Trade Payables | | 143 | 89 |
| Total Financial Liabilities| | 4,080 | 6,704 |

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 2011, No 101

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✨ LLM interpretation of page content

💰 Otago Community Trust Financial Statements for 2011 (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Instruments, Financial Assets, Financial Liabilities, Investment Management

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