T R U S T W A I K A T O
A N N U A L R E P O R T 2 0 1 2 / 2 0 1 3
F I N A N C I A l S T A T E M E N T S
37
11 INVESTMENTS
The Trust uses the services of an investment
advisor to pursue an investment policy considered
appropriate for the Trust. The Trust selects fund
managers according to their style and specialist skills
including the ability to protect capital in negative
or down markets. In the year to 31 March 2013
the Trust confirmed the following strategic asset
allocations and investments at fair value.
2013
2013
2012
2012
Strategic NZ$’000
Strategic NZ$’000
Asset
Asset
Allocation
Allocation
%
%
Growth Assets
Global Equities
25 73,463
25 67,515
Australasian Equities
10 48,298
15 40,551
Private Equity
5
334
-
-
Unlisted Property
10 27,395
10 26,242
Infrastructure
10 22,371
10 20,417
Income Assets
New Zealand
Fixed Interest
10 26,972
10 25,882
Global Fixed Interest
25 68,505
25 64,287
New Zealand Cash
5 15,347
5 12,591
Investments at
Fair Value
100% 282,685
100% 257,485
12 COMMITMENTS: INVESTMENTS
The Trust has made commitments to invest in certain
managed funds, which will call upon the committed
funds as the fund managers identify suitable
investment vehicles. These investments will be
funded by realising other investments currently held
by the Trust.
2013
Contribution Commitment Contribution
Commitment
to date
Balance within 1 year
NZ$’000
NZ$’000
NZ$’000
NZ$’000
Committed
Investments
23,000
2,925
20,075
450
2012
Contribution
Commitment
Contribution
Commitment
to date
Balance within 1 year
NZ$’000
NZ$’000
NZ$’000
NZ$’000
Committed
Investments 8,000
1,822
6,178
-
13 TE KETE PUTEA LIMITED
PARTNERSHIP (2012: DATABASE
LOAN)
The investment in Te Kete Putea Limited Partnership
(TKPLP) represents the Trust share of an integrated
donations and financial management system owned
collectively between 11 Community Trusts.
The Trust initially met its funding proportion for the
project by way of a loan to ASBCT, which agreed
to undertake the work on the project and incur the
project commitments. The Trust granted an indemnity
in favour of ASBCT in respect of such commitments.
This loan, shown in the Trust Balance Sheet as at
31 March 2012, was unsecured and interest free. On
the formation of TKPLP, the loan from the Trust was
extinguished by application by ASBCT towards the
Trust capital contribution to TKPLP. TKPLP acquired
the assets on 15 March 2013.
2013
2012
NZ$’000
NZ$’000
Total Comprehensive
Income for the year
23,963
6,808
Adjust for Non-Cash Items:
56
(31)
Impact of Changes in
Net Assets and Liabilities:
(23,938)
(6,193)
Net Cash Inflow
From Operating Activities
81
584
14 RECONCILIATION OF SURPLUS
FOR THE YEAR TO NET CASH
FLOWS FROM OPERATING
ACTIVITIES
