✨ Financial Statements Notes
4 SEPTEMBER 2013 NEW ZEALAND GAZETTE, No. 123 3409
The Canterbury Community Trust
Notes to the financial statements
For the year ended 31 March 2013
in New Zealand Dollars ($000’s)
19 Financial instruments (continued)
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.
Quantitative disclosure
Credit risk
The carrying amount of financial assets represents the Group’s maximum credit exposure.
The Group’s maximum exposure to credit risk for investments by geographic regions and investment type is as follows, net of related derivative liabilities:
| Carrying amount | Group 2013 | Group 2012 | Trust 2013 | Trust 2012 (Unaudited) |
|---|---|---|---|---|
| New Zealand Community Loans | 5,126 | 5,357 | 5,126 | 5,357 |
| New Zealand Cash | 44,829 | 91,658 | 44,829 | 91,658 |
| New Zealand Fixed interest | 96,351 | 86,827 | 96,351 | 86,827 |
| New Zealand Property | 13,279 | 12,749 | 0 | 0 |
| Australasian Equities | 36,573 | 29,741 | 36,573 | 29,741 |
| Private Equity | 13,046 | 14,007 | 1,353 | 1,386 |
| Global Bonds | 136,059 | 123,715 | 136,059 | 123,715 |
| Global Equities | 75,482 | 67,854 | 75,482 | 67,854 |
| Emerging Market Debt | 23,056 | 21,923 | 23,056 | 21,923 |
| Emerging Market Equities | 13,240 | 13,241 | 13,240 | 13,241 |
| Total Financial Assets | 457,041 | 467,072 | 432,069 | 441,702 |
Global Bonds, Global Equities, Australasian Equities, Emerging Market Debt and Emerging Market Equities contain investments denominated in US Dollars and Australian Dollars.
The Group has uncalled commitments to private equity funds totalling $13,755,967 (2012: $13,753,522).
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Notes to the Financial Statements for The Canterbury Community Trust
(continued from previous page)
💰 Finance & Revenue3 July 2013
Financial instruments, Investment objectives, Risk management, Credit risk, Investment portfolio
NZ Gazette 2013, No 123