FirstChoice Wholesale Investments - Colonial First State

COLONIAL FIRST STATE - FIRSTCHOICE WHOLESALE INVESTMENT FUNDS10. FINANCIAL RISK MANAGEMENT (continued)NOTES TO THE FINANCIAL STATEMENTSFOR THE PERIOD ENDED 30 JUNE 2011(d)Liquidity riskThe Funds are exposed to daily cash redemptions of redeemable units. The Funds primarily hold investments inmanaged investment schemes which are managed by the Responsible Entity. These investments are readilydisposable.Certain Funds may, from time to time, invest in derivative contracts traded over the counter, which are not traded in anorganised market and may be illiquid. As a result, these Funds may not be able to quickly liquidate its investments inthese instruments at an amount close to their fair value to meet its liquidity requirements or to respond to specific eventssuch as deterioration in the creditworthiness of any particular issuer or counterparty.The Funds' financial liabilities, excluding derivative financial liabilities, comprise trade and other payables and arecontractually due within 30 days.The table below analyses the Funds' derivative financial instruments into relevant maturity groupings based on theremaining period to the contractual maturity date at the year end date. The amounts disclosed in the table are thecontractual undiscounted gross cash flows expected to be paid or received, determined by reference to the conditionsexisting at the year end date. The contractual amounts can be settled on a gross or net basis.FirstChoice Wholesale Global Share - HedgedLess than 1 - 3 3 - 12 1 - 2 2 - 3 More than Total30/06/2011 1 month months months years years 3 years$'000 $'000 $'000 $'000 $'000 $'000 $'000Foreign currency forwardcontractsInflows 894,762 886,283 347,475 - - - 2,128,520(Outflows) (888,122) (882,508) (343,778) - - - (2,114,408)FirstChoice Wholesale Global Share - HedgedLess than 1 - 3 3 - 12 1 - 2 2 - 3 More than Total30/06/2010 1 month months months years years 3 years$'000 $'000 $'000 $'000 $'000 $'000 $'000Foreign currency forwardcontractsInflows 1,293,287 1,506,837 319,757 - - - 3,119,881(Outflows) (1,297,247) (1,503,662) (316,160) - - - (3,117,069)Page 139