New Zealand Gazette – 2011 – No. 146

Page 4170

✨ Financial Statements



THE COMMUNITY TRUST OF SOUTHLAND

NOTES TO & FORMING PART OF THE FINANCIAL STATEMENTS

For the Year Ended 31 March, 2011

15. MANAGED FUNDS

The Group has funds with seven investment managers (Fund Managers) as follows:

  • AMP Capital Investors
  • Capital International
  • Direct Capital
  • First New Zealand Capital
  • Franklin Templeton
  • Pacific Investment Management Company (PIMCO)
  • Tyndall Investment Management

During the year Franklin Templeton replaced Alliance Bernstein as one of the fund managers investing in overseas equities.

The fair value of the Managed Funds investments as at 31 March 2011 was as follows:

Group & Parent Alliance Bernstein $000 AMP Capital $000 Capital International $000 Direct Capital $000 First NZ Capital $000 Franklin Templeton $000 PIMCO $000 Tyndall Investment $000 Total $000
Australasian Equities 16,777 14,436 389 18,315 16,785 35,481
Overseas Equities 31,221 31,221
NZ Fixed Interest 42,200 42,200 42,200
Overseas Fixed Interest 42,781 42,781 42,781
Property Equities 6,271 6,271 6,271
Foreign Exchange contracts 201 135 (1,267) 106 (1,267) (1,368)
Unsettled Trades 9,751 9,965 9,662
Cash 20,052 20,052
Total $16,978 $14,436 $389 $24,721 $16,785 $52,058 $51,004 $176,371

The fair value of the Managed Funds investments as at 31 March 2010 was as follows:

Group & Parent Alliance Bernstein $000 AMP Capital $000 Capital International $000 Direct Capital $000 First NZ Capital $000 Franklin Templeton $000 PIMCO $000 Tyndall Investment $000 Total $000
Australasian Equities 16,401 153 18,256 34,810 34,810
Overseas Equities 13,579 16,375 29,954 29,954
NZ Fixed Interest 41,261 41,261 41,261
Overseas Fixed Interest 37,991 37,991 37,991
Property Equities 5,499 5,499 5,499
Foreign Exchange contracts 20 (694) (694) (694)
Unsettled Trades 196 17,266 106 10,566 28,202
Cash 198 1
Total $20 $16,599 $13,579 $154 $23,926 $16,375 $55,453 $51,239 $177,345

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 →



Online Sources for this page:

Gazette.govt.nz — PDF NZ Gazette 2011, No 146




✨ LLM interpretation of page content

💰 Financial Statements of the Community Trust of Southland (continued from previous page)

💰 Finance & Revenue
24 August 2011
Financial Statements, Community Trust, Southland, Investments, Equities, Advances, Deposits