New Zealand Gazette – 2014 – No. 105

Page 2946

✨ Financial Statements



2946

NEW ZEALAND GAZETTE, No. 105

29 AUGUST 2014

ASB COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2014

Cash Fund, Diversified Inflation Hedging Funds, Global Bond Funds, certain Global Equity, Emerging Markets Equity and Hedge Funds and New Zealand Equities are valued at fair value on the basis of Level 1 (quoted prices, unadjusted, in active markets for identical assets).

Investments in the Collateralised Commodities Futures Fund, Forward Exchange Contracts, certain Emerging Markets Equity, Global Equity and Hedge Funds, Global Bonds, New Zealand Bonds and Interest Rate Swaps are valued on the basis of Level 2 (value derived from inputs other than quoted prices within Level 1 that are observable for the asset, either directly (ie as prices) or indirectly (ie derived from prices)).

Investments in Private Equity Funds are valued on the basis of Level 3 (not based on observable market data).

Investments managed by Fund Managers comprise:

Group 2014 Group 2013 Trust 2014 Trust 2013
$000 $000 $000 $000
Level 1
Cash Fund 84,782 65,335 84,782 65,335
Global Bond Fund 47,980 46,623 47,980 46,623
Global Equity Funds 271,601 279,669 271,601 279,669
Emerging Markets Equity Fund 29,631 25,793 29,631 25,793
Diversified Inflation Hedging Fund 59,866 59,603 59,866 59,603
New Zealand Equities 23,087 23,597 23,087 23,597
Hedge Fund 32,160 - 32,160 -
Total Level 1 549,107 500,620 549,107 500,620
Level 2
Forward Exchange Contracts 5,295 3,424 5,295 3,424
Collateralised Commodities Futures Fund 30,044 32,163 30,044 32,163
Hedge Funds 212,630 218,210 212,630 218,210
Global Bonds 47,495 47,041 47,495 47,041
Global Equity Funds 113,516 117,968 113,516 117,968
Emerging Markets Equity Fund 29,201 30,550 29,201 30,550
New Zealand Bonds 135,857 137,761 135,857 137,761
Interest Rate Swaps 706 (588) 706 (588)
Total Level 2 574,744 586,529 574,744 586,529
Level 3
Private Equity NZD Denominated Funds 1,618 1,259 1,618 1,259
Private Equity USD Denominated Funds 15,711 8,610 15,711 8,610
Total Level 3 17,329 9,869 17,329 9,869
Portfolio total 1,141,180 1,097,018 1,141,180 1,097,018

Movements in Level 2 Financial Assets

There were no significant movements between Level 1 and Level 2 Financial Assets.



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Online Sources for this page:

Gazette.govt.nz — PDF NZ Gazette 2014, No 105




✨ LLM interpretation of page content

💰 ASB Community Trust Financial Statements (continued from previous page)

💰 Finance & Revenue
Financial Statements, Community Trusts, Revenue, Expenses, Grants, NZ IFRS 9, Financial Instruments, Financial Reporting Framework, Public Benefit Entities