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8 Contingent Liabilities: Donations and Sponsorships
Donations that are classified as contingent liabilities at balance date are discretionary
donation obligations that are reliant on fulfilment of certain conditions in future years.
Sponsorships that are classified as contingent liabilities at balance date are sponsorship
contracts which are reliant on fulfilment of certain conditions in future years. The following
contingent liabilities exist for donations and sponsorships that have been approved in the
current or previous years.
2015
2014
NZ$’000
NZ$’000
Donations
2,619
4,335
Sponsorships
136
200
2,755
4,535
Subject to fulfilment of the conditions, the contingent
liabilities are payable as follows:
Not later than 1 year
2,220
3,790
Later than 1 year and not later than 5 years
535
745
2,755
4,535
9 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 2015 the Trust confirmed the following strategic asset
allocations and investments at fair value.
2015
2014
Strategic
Asset
Allocation
Strategic
Asset
Allocation
% NZ$’000
% NZ$’000
Growth Assets
Global Equities
25
88,899
25
83,743
Australasian Equities
10
42,242
10
46,832
Private Equity
5
8,966
5
2,495
Unlisted Property
17.5
47,913
17.5
46,474
Infrastructure
10
24,622
10
21,976
Global Credit
7.5
33,350
7.5
26,538
Income Assets
New Zealand Fixed Interest
5
15,988
5
14,592
Global Fixed Interest
15
50,318
15
44,477
New Zealand Cash
5
15,100
5
14,635
Investments at Fair Value
100% 327,398
100% 301,762
THE WAIKATO COMMUNITY TRUST INCORPORATED
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2015
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