FirstChoice Wholesale Investments part 2 - Colonial First State

More documents

Recommendations

Info

COLONIAL FIRST STATE - FIRSTCHOICE WHOLESALE INVESTMENT FUNDS 9. FINANCIAL RISK MANAGEMENT (continued) NOTES TO THE FINANCIAL STATEMENTS FOR THE REPORTING PERIOD ENDED 30 JUNE 2013 (a) (iii) Market Risk (continued) Interest Rate Risk Investments in interest bearing financial assets are exposed to the risks associated with the effects of fluctuations in the prevailing levels of market interest rates on its financial position and cash flows. Such Funds are exposed to cash flow interest rate risk on financial instruments with variable interest rates. Financial instruments with fixed rates expose these Funds to fair value interest rate risk. The risk is measured using sensitivity analysis. Certain Funds may also enter into derivative financial instruments to mitigate the risk of future interest rate changes in accordance with the risk policies and guidelines of the Investment Managers. These transactions are regularly monitored by the Compliance Department of the Responsible Entity. The table below summarises the Funds' exposure to interest rate risks. It includes the Funds' assets and liabilities at fair values. FirstChoice Wholesale Moderate Floating Fixed Non-interest Total 30/06/2013 interest rate interest rate bearing $'000 $'000 $'000 $'000 Consolidated Financial assets Cash and cash equivalents 402,426 - - 402,426 Receivables - - 1,212 1,212 Financial assets held for trading 18,756 159,997 7,988,918 8,167,671 Derivatives 330 50,362 83,733 134,425 Mortgages - - - - Financial liabilities Payables - - (4,044) (4,044) Bank overdraft (11,316) - - (11,316) Loans - - - - Financial liabilities held for trading - Derivatives (3,967) (37,921) (60,207) (102,095) - Short sell - - - - Minority Interest - - ( 377,050) ( 377,050) 406,229 172,438 7,632,562 8,211,229 Net increase/(decrease) in exposure from interest rate swaps (notional principal) 983,710 (983,710) - - Net exposure 1,389,939 (811,272) 7,632,562 8,211,229 Parent Financial assets Cash and cash equivalents 19,179 - - 19,179 Receivables - - 100 100 Financial assets held for trading - - 8,192,941 8,192,941 Financial liabilities Payables - - (991) (991) Net exposure 19,179 - 8,192,050 8,211,229 Page 251
COLONIAL FIRST STATE - FIRSTCHOICE WHOLESALE INVESTMENT FUNDS 9. FINANCIAL RISK MANAGEMENT (continued) NOTES TO THE FINANCIAL STATEMENTS FOR THE REPORTING PERIOD ENDED 30 JUNE 2013 (a) (iii) Market Risk (continued) Interest Rate Risk (continued) FirstChoice Wholesale Moderate Floating Fixed Non-interest Total 30/06/2012 interest rate interest rate bearing $'000 $'000 $'000 $'000 Consolidated Financial assets Cash and cash equivalents 258,855 - - 258,855 Receivables - - 768 768 Financial assets held for trading - - 7,025,608 7,025,608 Derivatives - 7,883 11,305 19,188 Mortgages - - - - Financial liabilities Payables - - (1,162) (1,162) Bank overdraft (2,431) - - (2,431) Loans - - - - Financial liabilities held for trading - Derivatives - (10,053) (14,529) (24,582) - Short sell - - - - Minority Interest - - ( 152,350) ( 152,350) 256,424 (2,170) 6,869,640 7,123,894 Net increase/(decrease) in exposure from interest rate swaps (notional principal) - - - - Net exposure 256,424 (2,170) 6,869,640 7,123,894 Parent Financial assets Cash and cash equivalents 55,377 - - 55,377 Receivables - - 148 148 Financial assets held for trading - - 7,069,263 7,069,263 Derivatives - - - - Mortgages - - - - Financial liabilities Payables - - (894) (894) Net exposure 55,377 - 7,068,517 7,123,894 Page 252
Page 1 and 2:
FirstChoice Wholesale Investments 2
Page 3 and 4:
COLONIAL FIRST STATE - FIRSTCHOICE
Page 5 and 6:
Page 7 and 8:
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
Page 47 and 48:
Page 49 and 50:
Page 51 and 52:
Page 53 and 54:
Page 55 and 56:
Page 57 and 58:
Page 59 and 60:
Page 61 and 62:
Page 63 and 64:
Page 65 and 66:
Page 67 and 68:
Page 69 and 70:
Page 71 and 72:
Page 73 and 74:
Page 75 and 76:
Page 77 and 78:
Page 79 and 80:
Page 81 and 82:
Page 83 and 84:
Page 85 and 86:
Page 87 and 88:
Page 89 and 90:
Page 91 and 92:
Page 93 and 94:
Page 95 and 96:
Page 97 and 98:
3. INTEREST INCOME COLONIAL FIRST S
Page 99 and 100:
Page 101 and 102:
Page 103 and 104:
Page 105 and 106:
Page 107 and 108:
Page 109 and 110:
Page 111 and 112:
Page 113 and 114:
Page 115 and 116:
Page 117 and 118:
Page 119 and 120:
Page 121 and 122:
Page 123 and 124:
Page 125 and 126:
Page 127 and 128:
Page 129 and 130:
Page 131 and 132:
Page 133 and 134:
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
Page 141 and 142:
Page 143 and 144:
Page 145 and 146:
Page 147 and 148:
Page 149 and 150:
Page 151 and 152:
Page 153 and 154:
Page 155 and 156:
Page 157 and 158:
Page 159 and 160:
Page 161 and 162:
Page 163 and 164:
Page 165 and 166:
Page 167 and 168:
Page 169 and 170:
Page 171 and 172:
Page 173 and 174:
Page 175 and 176:
Page 177 and 178:
Page 179 and 180:
Page 181 and 182:
Page 183 and 184:
Page 185 and 186:
Page 187 and 188:
Page 189 and 190:
Page 191 and 192:
Page 193 and 194:
Page 195 and 196:
Page 197 and 198:
Page 199 and 200:
Page 201 and 202:
Page 203 and 204:
Page 205 and 206: COLONIAL FIRST STATE - FIRSTCHOICE
Page 255: COLONIAL FIRST STATE - FIRSTCHOICE
Page 307 and 308:
Page 309 and 310:
Page 311 and 312:
Page 313 and 314:
Page 315 and 316:
Page 317 and 318:
Page 319 and 320:
Page 321 and 322:
Page 323 and 324:
Page 325 and 326:
Page 327 and 328:
Page 329 and 330:
Page 331 and 332:
Page 333 and 334:
Page 335 and 336:
Page 337 and 338:
Page 339 and 340:
Page 341 and 342:
Page 343 and 344:
Page 345 and 346:
Page 347 and 348:
Page 349 and 350:
Page 351 and 352:
Page 353 and 354:
Page 355 and 356:
Page 357 and 358:
Page 359 and 360:
Page 361 and 362:
Page 363 and 364:
Page 365 and 366:
Page 367 and 368:
Page 369 and 370:
pwc Directors' responsibility for t
Page 372:
Enquiries Investor Services: 13 13
show all

FirstChoice Wholesale Investments part 2 - Colonial First State

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?