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New Zealand Gazette – 2013 – No. 123

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✨ Financial Statements Notes

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)

Foreign currency exchange risk

The Group and Trust’s exposure to foreign currency risk can be summarised as follows:


	USD	AUD
Foreign currency risk
Investments	36,592	25,866
Net balance sheet exposure before hedging activity	36,592	25,866

| Forward exchange contracts |
| Notional amounts | | 12,332 | 6,270 |
| Net unhedged exposure | | 24,260 | 19,596 |


	USD	AUD
Foreign currency risk
Investments	35,433	23,582
Net balance sheet exposure before hedging activity	35,433	23,582

| Forward exchange contracts |
| Notional amounts | | 11,132 | 5,121 |
| Net unhedged exposure | | 24,301 | 18,461 |

The foreign currency risk of certain investments is managed within the fund. The Group is unable to quantify the extent that this risk is managed. The foreign currency exchange risk is the NZ equivalent value.

Interest rate risk - Group and Trust 2013

Interest rate risk at 31 March 2013 occurs in the following investments:

| | Carrying amount
$'000 | Percentage covered by
interest rate swaps |
|--------------------------------|------------------------|
| New Zealand Cash | 44,829 | 0% |
| New Zealand Fixed Interest | 96,351 | 0% |
| Global Bonds | 136,059 | 0% |
| Emerging Market Debt | 23,056 | 0% |
| | 300,295 | |

Interest rate risk - Group and Trust 2012

Interest rate risk at 31 March 2012 occurs in the following investments:

| | Carrying amount
$'000 | Percentage covered by
interest rate swaps |
|--------------------------------|------------------------|
| New Zealand Cash | 91,658 | 0% |
| New Zealand Fixed Interest | 86,827 | 0% |
| Global Bonds | 123,715 | 0% |
| Emerging Market Debt | 21,923 | 0% |
| | 324,123 | |

At 31 March 2013 the Group had no interest rate swaps (2012: none).

Gazette.govt.nz — NZ Gazette 2013, No 123

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✨ LLM interpretation of page content

💰 Notes to the Financial Statements for The Canterbury Community Trust (continued from previous page)

Domain💰 Finance & Revenue
Dated3 July 2013
KeywordsFinancial instruments, Foreign currency exchange risk, Interest rate risk, Investments, Balance sheet exposure

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