Page 5 - 15717 Trust Waikato Annual Report

I AM PLEASED TO REPORT ON THE ACTIVITIES OF TRUST WAIKATO FOR THE YEAR ENDED 31 MARCH 2011.

In 2010, the Trust completed a review of its strategic direction and articulated its Strategic Plan for 2011-2013. Trust Waikato has a vision of resilient and vibrant communities throughout the region it serves. In contributing to that vision, the Trust aims to invest wisely the capital fund with which it is entrusted and to donate effectively the proceeds of those investments to benefit current communities. The Trust’s investments returned 8.6% in the financial year and at the end of the year the Trust fund was valued at over $254.7million. The Trust has made significant progress in rebuilding the value of the fund following the falls during the global financial crisis, with some small distance still to go.

During the year, the Trust began implementing its new strategic asset allocation following a review of the asset classes in which the Trust places its funds. The new allocation, reported on in the financial statements, is designed to provide greater diversity, inflation protection and protection in times of volatile markets. As a signatory to the United Nations Principles for Responsible Investment, the Trust continues to consider ways in which environmental, social and governance issues may impact on both investments and communities. The Trust made progress as a responsible investor during the year by entering a global equities fund with a focus on sustainable investment and making some changes to its domestic investments in line with its commitments to resilient and vibrant communities.

During the year, the Trust committed approximately $6.5million of donations to a range of projects and not for profit organisations around its region. The Trust has continued to focus on community groups and projects that support children and families, and those communities that struggle the most. At the same time, the Trust does contribute to a very wide range of sports, recreation, social service, arts, cultural and environmental groups. The Trust continues to be a strong supporter of building the capacity of community groups and the voluntary work of much of the community sector.

Trustees of Trust Waikato are appointed by the Minister of Finance. During the year, the terms of John Kilbride (Chair) and Bernadette Doube ended, after 8 years service. The terms of Josie Anderson, Dennis Astle and Max Purnell ended after 4 years service. Five new trustees were appointed: John Paenga, Peggy Barriball, Ali Van der Heyden, Maxine Viggers and Raewyn Sporle. In February, then Chair and trustee of 10 years, Leaupepe Karalus, resigned from the Trust. The passion and commitment of all trustees is acknowledged, as is the skill and dedication of the staff of Trust Waikato.

Trustees acknowledge the generosity of those people throughout the region who contribute to the wonderful place we live in, through the many community and voluntary groups that serve us all.