✨ Financial Statements Notes
THE COMMUNITY TRUST OF SOUTHLAND
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2014
16. MANAGED FUNDS
The Group has funds with six investment managers (fund managers) at 31 March 2014 as follows:
- Direct Capital
- Elevation Capital Limited
- First New Zealand Capital
- Pacific Investment Management Company (PIMCO)
- Pioneer Capital Limited Partnership
- Tyndall Investment Management
The fair value of the managed funds investments as at 31 March 2014 was as follows:
| Group & Parent | Elevation Capital $\000 | Direct Capital $\000 | First NZ Capital $\000 | Pioneer Capital $\000 | PIMCO $\000 | Tyndall Investment $\000 | Total $\000 |
|---|---|---|---|---|---|---|---|
| Australasian Equities | 22,048 | 1,034 | 587 | 23,669 | |||
| Overseas Equities | 53,750 | 53,750 | |||||
| NZ Fixed Interest | 41,114 | 41,114 | |||||
| Overseas Fixed Interest | 41,482 | 41,482 | |||||
| Foreign Exchange contracts | 830 | 830 | |||||
| Unsettled Trades | 39 | 39 | |||||
| Cash | 14,105 | 3 | 587 | 5,840 | 19,948 | ||
| Total | 89,903 | 1,034 | 3 | 587 | 41,482 | 47,823 | 180,832 |
The fair value of the managed funds investments as at 31 March 2013 was as follows:
| Group & Parent | AMP Capital $\000 | Capital International $\000 | Direct Capital $\000 | First NZ Capital $\000 | Franklin Templeton $\000 | PIMCO $\000 | Tyndall Investment $\000 | Total $\000 |
|---|---|---|---|---|---|---|---|---|
| Australasian Equities | 36,777 | 884 | 37,661 | |||||
| Overseas Equities | 14,925 | 16,669 | 31,594 | |||||
| NZ Fixed Interest | 45,809 | 45,809 | ||||||
| Overseas Fixed Interest | 54,895 | 54,895 | ||||||
| Property Equities | 7,068 | 7,068 | ||||||
| Foreign Exchange contracts | 275 | 275 | ||||||
| Unsettled Trades | 76 | 76 | ||||||
| Cash | 1,087 | 884 | 16 | 601 | 1,704 | 4,292 | ||
| Total | 44,932 | 14,925 | 884 | 16 | 16,669 | 54,895 | 46,761 | 179,082 |
Exposure to currency, interest rate and credit risk arises in the normal course of the fund managers management of the managed funds. A range of hedging policies are in place whereby the fund managers use derivative financial instruments as a means of managing exposure to fluctuations in foreign exchange rates and interest rates. While these financial instruments are subject to the risk of market rates changing subsequent to acquisition, such changes would generally be offset by opposite effects and the items being hedged.
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NZ Gazette 2014, No 104
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Community Trust of Southland Financial Report
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💰 Finance & RevenueFinancial report, Community Trust, Southland, Taxation, Trust capital, Reserves, Grant obligations, Loan receivables, Community groups, Unlisted equities, Listed equities