New Zealand Gazette – 2013 – No. 114

Page 3093

✨ Financial Statements

26 AUGUST 2013 NEW ZEALAND GAZETTE, No. 114 3093

ASB COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2013

made on the basis of appropriate valuation techniques. Key assumptions included the Category 1 New Zealand Historic Places Heritage Rating on Allendale House and occupancy and rental rates. Land and Buildings (Allendale House and the 2013 Annexe) were revalued at $6.7 million being fair market value at 31 March 2013, as determined by valuation. The deficit on revaluation was $381,000 and has been accounted for in the Statement of Changes in Trust Funds.

4. INVESTMENTS

Managed by Fund Managers	Group		Trust
	2013	2012	2013
	$000	$000	$000
Balance as at 1 April	1,049,310	1,105,133	1,049,310
Movement in market value and investment income	81,165	(10,007)	81,165
Net withdrawals	(33,457)	(45,816)	(33,457)

Portfolio total | 1,097,018 | 1,049,310 | 1,097,018 | 1,049,310 |

Investments managed by Fund Managers comprise:	Group		Trust
	2013	2012	2013
	$000	$000	$000
Pooled Funds
Cash Fund	65,335	77,970	65,335
Forward Exchange Contracts	3,417	(152)	3,417
Global Bond Funds	46,523	123,129	46,523
Global Equity Funds	397,637	395,370	397,637
Emerging Markets Equity Funds	56,343	55,647	56,343
Hedge Funds	218,210	186,485	218,210
Collateralised Commodity Futures Fund	32,163	34,054	32,163
Private Equity NZD Denominated Funds	1,259	1,124	1,259
Private Equity USD Denominated Funds	8,610	5,174	8,610
Diversified Inflation Hedging Funds	59,603	59,077	59,603

Total Pooled Funds | 889,200 | 937,878 | 889,200 | 937,878 |

| Segregated Funds | | | |
| Global Bonds - Segregated Account | 47,041 | - | 47,041 | - |
| New Zealand Bonds - Segregated Account | 137,761 | 111,479 | 137,761 | 111,479 |
| New Zealand Equities - Segregated Account | 23,597 | - | 23,597 | - |
| Forward Exchange Contracts | 7 | - | 7 | - |
| Interest Rate Swaps | (588) | (47) | (588) | (47) |

Total Segregated Funds | 207,818 | 111,432 | 207,818 | 111,432 |

Portfolio total | 1,097,018 | 1,049,310 | 1,097,018 | 1,049,310 |

These are long term investments.

Gazette.govt.nz — NZ Gazette 2013, No 114

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

💰 ASB Community Trust Financial Statements Notes (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Statements, Revenue, Investments, ASB Community Trust, Fixed Assets

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