✨ Financial Statements Notes
26 AUGUST 2013
NEW ZEALAND GAZETTE, No. 114
3099
ASB COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2013
Investments managed by Fund Managers comprise:
| Group | Trust | |||
|---|---|---|---|---|
| 2013 | 2012 | 2013 | 2012 | |
| $000 | $000 | $000 | $000 | |
| Level 1 | ||||
| Cash Fund | 65,335 | 77,970 | 65,335 | 77,970 |
| Global Bond Funds | 46,623 | 123,129 | 46,623 | 123,129 |
| Global Equity Funds | 279,669 | 287,906 | 279,669 | 287,906 |
| Emerging Markets Equity Fund | 25,793 | 26,565 | 25,793 | 26,565 |
| Diversified Inflation Hedging Funds | 59,603 | 59,077 | 59,603 | 59,077 |
| New Zealand Equities | 23,597 | - | 23,597 | - |
| Total Level 1 | 500,620 | 574,647 | 500,620 | 574,647 |
| | | | | |
| Level 2 | | | | |
| Forward Exchange Contracts | 3,424 | (152) | 3,424 | (152) |
| Collateralised Commodities Futures Fund | 32,163 | 34,054 | 32,163 | 34,054 |
| Hedge Funds | 218,210 | 186,485 | 218,210 | 186,485 |
| Global Bonds | 47,041 | - | 47,041 | - |
| Global Equity Funds | 117,968 | 107,464 | 117,968 | 107,464 |
| Emerging Markets Equity Fund | 30,550 | 29,082 | 30,550 | 29,082 |
| New Zealand Bonds | 137,761 | 111,479 | 137,761 | 111,479 |
| Interest Rate Swaps | (588) | (47) | (588) | (47) |
| Total Level 2 | 586,529 | 468,365 | 586,529 | 468,365 |
| | | | | |
| Level 3 | | | | |
| Private Equity NZD Denominated Funds | 1,259 | 1,124 | 1,259 | 1,124 |
| Private Equity USD Denominated Funds | 8,610 | 5,174 | 8,610 | 5,174 |
| Total Level 3 | 9,869 | 6,298 | 9,869 | 6,298 |
| Portfolio total | 1,097,018 | 1,049,310 | 1,097,018 | 1,049,310 |
Movements in Level 2 Financial Assets
There were no significant movements between Level 1 and Level 2 Financial Assets.
Movements in Level 3 Financial Assets
| Movements in Level 3 Financial Assets | Group | Trust | ||
|---|---|---|---|---|
| 2013 | 2012 | 2013 | 2012 | |
| $000 | $000 | $000 | $000 | |
| Private Equity | ||||
| Private Equity NZD Denominated Committed Investment | 5,000 | 5,000 | 5,000 | 5,000 |
| Private Equity USD Denominated Committed Investment | 27,446 | 21,965 | 27,446 | 21,965 |
| Total Commitment | 32,446 | 26,965 | 32,446 | 26,965 |
| Opening Balance | 6,298 | 1,259 | 6,298 | 1,259 |
| Drawdowns | 4,412 | 5,665 | 4,412 | 5,665 |
| Return of Capital | (1,047) | (1,047) | (1,047) | (1,047) |
| Changes in Fair Value reported through Profit or Loss in the Statement of Comprehensive Income | 413 | 421 | 413 | 421 |
| Closing Balance at 31 March | 9,869 | 6,298 | 9,869 | 6,298 |
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NZ Gazette 2013, No 114
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ASB Community Trust Financial Statements Notes
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💰 Finance & RevenueFinancial Statements, Revenue, Investments, ASB Community Trust, Fixed Assets, Grants, Trust Funds, Capital Maintenance, Financial Assets, Liabilities, Fair Value Hierarchy, Cash Fund, Diversified Inflation Hedging Funds, Global Bond Funds, Global Equity, Emerging Markets Equity Funds, New Zealand Equities, Collateralised Commodities Futures Fund, Hedge Funds, Forward Exchange Contracts, Global Bonds, New Zealand Bonds, Interest Rate Swaps, Private Equity Funds