5 August 2021
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:
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:
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:
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