✨ Financial Statements Notes
3288 NEW ZEALAND GAZETTE, No. 114 14 SEPTEMBER 2012
ASB COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2012
At balance date the Group’s exposure to currency risk was as follows:
| Group | Trust | |||
|---|---|---|---|---|
| 2012 | 2011 | 2012 | 2011 | |
| $000 | $000 | $000 | $000 | |
| Financial assets with currency exposure | 858,936 | 954,963 | 858,936 | 954,963 |
| Hedged currency exposure as at 31 March | (521,952) | (620,505) | (521,952) | (620,505) |
| Unhedged currency exposure at 31 March | 336,984 | 334,458 | 336,984 | 334,458 |
| | | | | |
| USA and Canada | 232,872 | 224,302 | 232,872 | 224,302 |
| United Kingdom and Europe | 56,375 | 61,338 | 56,375 | 61,338 |
| Australia | 29,082 | 27,941 | 29,082 | 27,941 |
| Japan and Far East | 18,655 | 20,877 | 18,655 | 20,877 |
| Unhedged currency exposure at 31 March | 336,984 | 334,458 | 336,984 | 334,458 |
Pricing Risk
Pricing Risk is the risk that the fair value of financial assets will increase or decrease as a result of changes in market prices, whether these changes are caused by factors specific to individual stocks or factors affecting all financial assets in the market. Pricing risks arise from the Group’s investment portfolio.
The Group’s financial assets are priced at fair value by the Trust’s Custodian. The effect on the Group’s Statement of Comprehensive Income and Statement of Financial Position at 31 March 2012, due to a reasonably possible change in market risk (including interest rate risk, currency risk and pricing risk) is represented in the following table:
| | Sensitivity Range
| | (-1 to +1 standard
| | deviation from the
| | expected annual return) | Sensitivity Impact
| | | (from the expected
| | | annual return)
| | | $000 |
|------------------------|--------------------------------------|---------------------|
| Growth Assets | -6.0% to +26.8% | -27,393 to +122,357 |
| Diversified Assets | -0.9% to +17.3% | -1,503 to +28,888 |
| Inflation Proofing Assets | -4.8% to +21.4% | -5,428 to +24,200 |
| Deflation Proofing Assets | +0.6% to +10.6% | +1,921 to +33,944 |
| Total Portfolio | -1.1% to +17.8% | -11,625 to +187,061 |
There is a 68% probability that the return in any one year will be within the range of -1.1% to +17.8%.
Next Page →
NZ Gazette 2012, No 114
✨ LLM interpretation of page content
💰
Notes to the Financial Statements of ASB Community Trust
(continued from previous page)
💰 Finance & RevenueFinancial Statements, Investments, Currency Risk, Hedging, Pricing Risk, Market Sensitivity, Portfolio Analysis