✨ Financial Statements Notes
NEW ZEALAND GAZETTE, No. 114
14 SEPTEMBER 2012
ASB COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2012
Credit Risk Ratings of Investments
Group and Trust
31 March 2012
| AAA to AA- | A+ to A- | BBB+ to B | CCC, NR Other | $'000 | |
|---|---|---|---|---|---|
| New Zealand Bonds | 95.7% | 4.3% | 0.0% | 0.0% | 111,432 |
| Global Bonds | 57.8% | 13.1% | 23.2% | 5.9% | 123,129 |
| Cash | 81.0% | 16.3% | 2.4% | 0.3% | 77,970 |
Group and Trust
31 March 2011
| AAA to AA- | A+ to A- | BBB+ to B | CCC, NR Other | $'000 | |
|---|---|---|---|---|---|
| New Zealand Bonds | 87.3% | 12.7% | 0.0% | 0.0% | 96,793 |
| Global Bonds | 56.0% | 12.9% | 25.8% | 5.3% | 221,124 |
| Cash | 85.3% | 14.7% | 0.0% | 0.0% | 44,064 |
Forward Exchange Contracts:
Hedging is undertaken by J P Morgan Chase Bank NA. At 31 March 2012 J P Morgan had a long term S & P credit rating of rating A+ (2011: AA-).
| Group and Trust Outstanding Contracts | Carrying Amount $'000 | Contractual Maturity (less than 1 month) $'000 |
|---|---|---|
| 2012 | ||
| Inflow | 207,565 | |
| Outflow | (152) | (207,505) |
| 2011 | ||
| Inflow | 8,054 | 249,546 |
| Outflow | (241,132) |
Refer to Currency Risk note for hedged and unhedged currency exposure.
Liquidity Risk
Liquidity Risk is the risk that the Group will encounter difficulties in meeting the obligations associated with its financial liabilities. This risk is managed through the Group's investment in a diversified portfolio of financial assets.
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NZ Gazette 2012, No 114
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Notes to the Financial Statements of ASB Community Trust
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💰 Finance & RevenueFinancial Statements, Investments, Credit Risk, Liquidity Risk, Forward Exchange Contracts, Hedging, Bonds, Cash, Credit Ratings