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New Zealand Gazette – 2013 – No. 76

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✨ Financial Statements

14 JUNE 2013 NEW ZEALAND GAZETTE, No. 76 2019

EASTERN AND CENTRAL COMMUNITY TRUST INC

NZ & Australia Equities

The NZ & Australia Equity portfolio is managed by Forsyth Barr. The Investment mandate allows the Fund Manager to invest between 2.5% and 7.5% of the portfolio in companies listed on the NZ and Australia Stock Exchanges. The actual exposure at year end was 8.7% due to the growth in these assets (2012:7.8%). This portfolio is measured against the NZSX40 (net Dividend) Index.

NZ Listed Property

The NZ Listed Property portfolio is managed by Forsyth Barr. The Investment mandate allows the Fund Manager to invest between 1.25% and 3.75% of the portfolio in property companies listed on the NZ Stock Exchange. The actual exposure at year end was 1.5% (2012:1.4%). This portfolio is measured against the NZX Property Sector (net Dividend) Index.

NZ Bonds

The NZ Bond portfolio is managed by Forsyth Barr Esam Cushing Limited. The Investment mandate allows the Fund Manager to invest between 20% and 35% of the portfolio in bonds. The mandate places limits on the underlying investment categories, along with credit and duration restrictions. The actual exposure at year end was 30.1% (2012:29.5%). This portfolio is measured against the NZX Corporate A Grade Index.

Off Shore Equities

The Off Shore Equity portfolio is managed by State Street Global Advisors. The investment is in a pooled fund. The investment mandate allows the Fund Manager to invest between 40% and 60% of the portfolio in off shore equities. The actual exposure at year end was 41.1% (2012:45.1%). This portfolio is measured against the MSCI Gross ($NZ) Index and the strategic policy is to be 50% hedged back to NZ dollars.

Australian Listed Property

The Australian Listed Property portfolio is managed by State Street Global Advisors. The investment is in a pooled index trust. The investment mandate allows the Fund Manager to invest between 1.25% and 3.75% of the portfolio in Australian listed property equities. The actual exposure at year end was 1.4% (2012:1.2%). This portfolio is measured against the S&P/ASX200 Property Accumulation Index and the strategic policy is to be 50% hedged back to NZ dollars.

Off Shore Bonds

The Off Shore Bond Securities portfolio is managed by Vanguard. The investment is in a pooled hedged index fund. The investment mandate allows the Fund Manager to invest between 5% and 10% of the portfolio in bonds. The actual exposure at year end was 9.3% (2012:9.1%). This portfolio is measured against the Citigroup WGBI Index and is fully hedged to Australian dollars. The strategic policy is to be 100% hedged back to NZ dollars.

Cash

The Cash Portfolio is managed by the Trust Manager. The mandate places limits on the underlying investment categories, along with credit and duration restrictions. The investment mandate allows the Trust Manager to invest between 2% and 10% of the portfolio in cash. The actual exposure at year end was 8.0% (2012:5.9%). The portfolio is measured against the NZX call rate.

Performance against Policy

The following table shows the actual performance, the benchmark performance and value added for all asset classes held by the Trust for the year ended 31^st March 2013:

Asset	Actual Return (%)	Benchmark Return (%)	Value Added (%)
NZ & Aus Equities	23.3	23.7	+0.4
NZ Property	21.9	16.9	+5.0
NZ Bonds	8.4	6.7	+1.7
Offshore Equities	10.7	9.0	+1.7
Aus Property	26.6	22.5	+4.1
Offshore Bonds	10.0	7.5	+2.5
Cash	4.0	2.5	+1.5
TOTAL	10.6	9.9	+0.7

Gazette.govt.nz — NZ Gazette 2013, No 76

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✨ LLM interpretation of page content

💰 Eastern and Central Community Trust Financial Statement (continued from previous page)

Domain💰 Finance & Revenue
Dated24 May 2013
KeywordsFinancial Statements, Income, Expenses, Donations, Trust, Accounting Policies, NZ IFRS 13, Fair Value Measurement, Financial Reporting Framework, Employee Benefits, GST, Income Tax, Leases, Cash Flows, Te Kete Putea Limited Partnership, DMS Database, Hosting Agreement, Administrative Expenses, Office Administration, Advertising, Promotion, Audit Fees, Depreciation, Rent, Services, Professional Expenses, Fund Managers' Fees, Donation Expenses

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NZ Gazette Sources

The primary sources for the issues of the NZ Gazette indexed by this project are:

New Zealand Gazette Archive, provided by Victoria University Library, copyright 2008 LexisNexis NZ Limited, Crown Copyright of New Zealand Gazette Office
- Issues from 1841-2008, including the New Munster, New Ulster, and Provincial Gazettes
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- Issues from 1913-1999
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Additional Sources

Wellington City Recollect have made available a comprehensive and excellent-quality scan of the Wellington Provincial Gazette which was used to fill in a number of issues missing from Victoria University's Gazette Archive; in particular, all 1856 issues, issues 22-34 for 1864 and issues 9-19 for 1870.
27 issues of The New Zealand Advertiser and Bay of Islands Gazette (1840) were sourced from Papers Past (public domain).
Gazette Extraordinary No. 1 (1840), held at the Alexander Turnbull Library, Wellington, New Zealand. Imaged by Luke Howison at the National Library reading rooms; PDF released into the public domain.

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