Our Purpose

Our Purpose

To accelerate bold meaningful change, assisting BOP communities and the environment to flourish.

News & Media

CE Update Annual Report

5 August 2021

Tēnā koutou,

We are pleased to release our annual results for the year which has positioned us well as we look to continue delivering on our Kaupapa of ‘accelerating bold and meaningful change, assisting BOP Communities and our Environment to flourish’.

It has been a very strong year to 31 March 2021 with our investments performing exceptionally well despite the Covid-19 volatility, returning 24.3%, 4.1ppts above benchmark with our sustainably themed investment funds in particular, performing strongly. This has led us to delivering an overall record surplus of $42m for the year.

This continues a strong trend of investment performance over the past 10 years where our investment portfolio has delivered an annualised return of 9.1% net of all fees. This compares to a return of 8.5% for the passive policy benchmark. Our equity has risen from $145m to $246m, with $45 million distributed through grants for the same period.  

Our investments are however not just about the $$’s, we are also using them to create positive impact and are transitioning to a truly sustainable and carbon neutral investment portfolio over the ensuing 10 years (at the latest) as well as investing directly into our local communities for environmental / social benefits including:

  • Supporting our local community housing providers through low interest loans;
  • Bringing a shared equity housing product into the BOP;
  • Helping support local  Māori/Iwi with their economic aspirations in Opotiki and Taupo/Turangi.

The record surplus delivered in the last year has given our Board confidence to lift the expected granting to over $7.5m for this year (and over $25m for the next three years) which is 19% higher than last year and this granting will be focussed on delivering BayTrust’s Kaupapa; “to accelerate bold and meaningful change, assisting BOP Communities and our Environment to flourish” and our funding priorities of:

  • Kaitiakitanga;
  • Healthy, Secure and Affordable housing;
  • Sustainable employment and Inclusive Growth;
  • Community Wellbeing and Tū Māori Mai.

As we look at the year ahead, we will continue to support and work closely with our communities and focus on rolling out our new strategic priorities with specific actions including:

  • Housing - we are allocating a further $10m of investment into this space where we will look to work with Iwi, community housing providers, central and local government, and other key stakeholders to maximise the impact that this $10m investment can make as we believe everyone has a role to play in terms of turning around the current housing crises seen throughout NZ. 
  • Action our climate change plan and help to lead the BOP into a more sustainable and fit for purpose future.
  • Drive towards a carbon neutral investment portfolio by 2030 and an overall sustainable investment portfolio over the same timeline.
  • Partner with Māori/Iwi particularly through co-investments.
  • Continue to invest in the NZ impact investment and social enterprise ecosystem.
  • Explore more sub-regionally based funders pools and increased commissioning for outcomes.
  • Ensure we deliver a fantastic 2022 Combined Community Trusts conference in Rotorua.

Lastly, a big thank you to our team of Trustees and staff for their hard-work and input over the challenging year, working for our communities.  Plus, an even bigger thank you to all the wonderful community organisations who have worked through these tough and challenging times. 


Nā māua noa, nā


Rita Nabney                     Alastair Rhodes

Chair                                  CEO