May 2020 Newsletter
This edition of the newsletter includes information on our COVID-19 Level 2 operating procedures and a update on the market.
The newsletter includes articles on the property fund portfolio asset valuations as well as the COVID-19 rental impact.
The update reports on the performance of the funds compared to their benchmarks to 31 March 2020.
COVID-19 Office Procedures
When the country collectively entered lockdown under Covid-19 Level 4, Trust Management immediately activated its business continuity plans which seamlessly transitioned to a remote working environment. We are pleased to report there was no interruption in service to clients who rely on our day-to-day financial management.
With the shift to Covid-19 Level 2, Trust Management is pleased to re-open its offices to staff on Monday 18th May, however we will operate under special conditions.
Appointment of Matthew Goldsack
General Manager Investments
Matthew Goldsack, has been appointed General Manager Investments of Trust Management. Matthew joins Trust Management from his previous role of 12 years with BT Funds Management (Westpac) where he was Head of Investment Solutions and responsible for the management of over $14 billion.
Matthew was responsible for the BT fund-of-funds solutions with significant input into manager selection. During his tenure, the BT internal investment team spun out to form the independently-owned Salt Funds Management.
Prior to joining Westpac/BT in late 2008, Matthew was the Head of Research for Axa Global Investors.
John Williams, Investment Manager Retirement
John Williams has decided that it is time that he spends more time with his family which now includes three grandchildren and as such, after joining Trust Management at the start of 2015, John will be retiring from Trust Management in late February 2020 in advance of his and Joy’s move to Christchurch.
Over the last five years John has been responsible not only for providing advice to our existing clients but also assisting with the establishment of a number of new client relationships. As many of you have remarked to me over the years, John’s ability to convert sometimes complex investment theories into simple terms (often using sporting analogies!) has put our clients at ease and allowed them to feel confident with the investment decisions they have made. The performance and stability of the returns earned from your investments stands as testament to the quality of the advice John has given.
So, while it is with sadness that we advise you of John’s retirement, we do wish John and Joy all the very best for their next adventure. Having known John for these past five years we can assure you he will not become a stranger to any of us at Trust Management!
November 2019 Newsletter
This edition of the newsletter includes information on our Christmas opening hours and reduced staffing levels during January 2020.
The newsletter includes articles on the seminar with Steven Dunlop which took place in October as well as the unconditional purchase of 186 Queen Street, Auckland.
The update reports on the performance of the funds compared to their benchmarks to 30 September 2019.
Christmas Opening Hours
It has been a busy year, both for our staff and clients, but a very rewarding and enriching year at the same time.
The office will be closing on Monday, 23 December 2019 and reopening on Monday, 6 January 2020.
From 6 January 2020 to 10 January 2020 the office will be open but operating with reduced staffing levels, as we encourage our staff to have a well earned break with family and friends.
We look forward to meeting up with our clients and investors again in the New Year, and we wish you all the best for the festive season.
September 2019 Newsletter
This edition of the newsletter includes information on our upcoming October seminar with Steven Dunlop, National Head, Valuation & Advisory for Savills as well as an update on the social media engagement initiative which Trust Management joined in April 2019.
The newsletter includes articles on the Property Funds Solid Six Month Revaluation Growth as well as the Lease Extension at 1-15 The Avenue, Lynfield.
We also profile our new Director, Mel Hewitson.
The update reports on the performance of the funds compared to their benchmarks to 30 June 2019.
Parish Accounting Newsletter
Quarter 3, 2019 Update
This newsletter includes information on Approval of Payments and Delegated Authorities.
The newsletter also features articles on the Data Analytics for Finance Conference and Social Media Controls.
We also profile our Parish Accountant Udeshika Kiriwaththudawage.
Lunch with Steven Dunlop
We are pleased to invite you to a lunch with Steven Dunlop, National Head, Valuation & Advisory for Savills at 12pm on Friday 4th October at our office, 123 Carlton Gore Road, Newmarket, Auckland.
As one of New Zealand’s leading commercial Registered Valuers, Steven is well positioned to provide his views on the New Zealand commercial property market.
Social Media Engagement Update
The social media engagement initiative which Trust Management joined in April 2019, has now grown to represent 60 local and global participants, with more than $5 trillion of assets under management.
The initiative was a result of the Christchurch Mosque shootings which took place on Friday, 15th March 2019. The NZ Super Fund led the establishment of the initiative which sought to engage with Facebook, Twitter and Google in respect of strengthening controls to prevent the distribution of objectionable content.
New Director - Mel Hewitson
We are pleased to announce Mel Hewitson was appointed Director of Trust Management as of 1 August 2019.
Mel is a professional director, following an executive career in institutional investment management, risk, compliance and financial regulation.
Mel is a director of Simplicity NZ Limited, Heritage Trustee Company Limited and Ngāti Whātua Ōrākei Whai Maia Limited. She is Deputy Chair of Foundation North, Chair of Centre for Social Impact and chairs the Nominating Committees for the Guardians of New Zealand Super Fund and the Waikato-Tainui Group Investment Committee.
Sharon Zollner Seminar
We were delighted to have Sharon Zollner, Chief Economist ANZ present to our clients in late August.
Sharon gave us a detailed assessment of New Zealand’s economic outlook, covering all the key indicators such as GDP growth, inflation, house prices, the labour market, household debt, the external position and terms of trade, and the government accounts. Bank capital and credit availability also featured in her presentation.
Parish Accounting Newsletter
Quarter 2, 2019 Update
This newsletter includes information on our Parish Open Day on 26th June 2019.
The newsletter also features articles on the 2019 Charities Conference and Special Fund Reporting.
We also profile our Financial Services Manager, Grace Sun.
May 2019 Newsletter
This edition of the newsletter includes information on the Principles for Responsible Investment and features articles on our General Manager - Finance recent attendance at the 2019 Charities Conference as well as the acquisition of the properties at 104-140 Neilson Street, Onehunga and the sale of the Harbourside Centre.
Trust Management has also added its voice to the engagement initiative promoted by the NZ Super Fund, to strengthen controls on social media content.
We also profile our General Manager - Finance, Anne Edwards.
The update reports on the performance of the funds compared to their benchmarks to 31 March 2019.
Profile: Anne Edwards - General Manager Finance
Anne Edwards, Trust Management’s General Manager of Finance, believes her thirst for knowledge, attention to detail and passion for the stories numbers tell are the traits that allow her to excel at her job.
Anne came to the company in 2015 with an impressive career background. With almost 30 years in the industry, she spent nearly half of her career as Associate Director at UBS New Zealand and has served a plethora of respected and well-known clientele.
2019 New Zealand Charities Conference
Over 2 days in April, Anne Edwards - General Manager Finance attended the 2019 New Zealand Charities Conference, “Future prospects for charity law, accounting, and regulation”. Attending the conference reflects our commitment to having a strong voice in shaping the regulatory environment that impacts our clients.
Building on the success of 2018, this multi-disciplinary conference covered legal, accounting and related practical issues associated with the charitable sector, and aimed to:
Inform and educate on important topics for charities
Strengthen links, contacts and collaboration within the sector community
Share lessons learnt and best practice that have worked for others, within New Zealand and beyond
Stimulate discussion and input into the review of the Charities Act 2005.
Principles for Responsible Investment
Trust Management is a signatory to the UNPRI.
The Principles for Responsible Investment commonly known as the ‘UNPRI’, is an organisation promoting the implementation of responsible investment principles.
Signing the internationally-recognised Principles for Responsible Investment allows an organisation to publicly demonstrate its commitment to responsible investment.
Signatories also have access to a wealth of information and tools for collaboration.
You can view the signatories, by using the search tools at https://www.unpri.org/signatories/signatory-directory
If you have any questions about Trust Management’s approach to responsible investments, please do not hesitate to contact us.
Social Media Content Controls
Trust Management has added its voice to the engagement initiative promoted by the NZ Super Fund to strengthen controls on social media content.
The number of investors involved in the engagement exceeds 50, and represents total assets under management of more than $4 trillion NZD.
Trust Management’s CEO, Grant Hope, said ‘We see engagement on ESG matters as an important role for investment managers, ensuring that the views of our investors are heard by the companies which they invest in'.
February 2019 Newsletter
This edition of the newsletter includes an analysis of the market in 2018 and what to expect in 2019.
The newsletter also features articles on our CEO's recent attendance at the Responsible Investment Association Australasia conference in Melbourne as well as the acquisition of properties from the Rātā Foundation.
We also profile our General Manager Shane Coward.
The update reports on the performance of the funds compared to their benchmarks to 31 December 2018.
Profile: Shane Coward - General Manager
Shane Coward has nearly 20 years of experience in finance and management. He has dedicated 15 of those years to Trust Management and its mission to help clients advance their charitable purposes, 12 years as the General Manager of Finance and three as the group’s General Manager.
2018 Responsible Investment Association Conference
Grant Hope, recently attended the Responsible Investment Association Australasia conference in Melbourne. It was clear to Grant that despite the increasing desire of investors for ESG investments, many Fund Managers and advisors in the room were paying little more than lip service to ESG.
Quarter Three, 2018 Update
This edition of the newsletter includes details on our upcoming Ministry Accounting Roadshows taking place throughout November and December.
The newsletter also features articles on our Christmas office opening hours as well as an update on Harbourside Centre, 16-18 Parumoana Street, Porirua.
We also profile our General Manager Property, Patrick O'Reilly.
The update reports on the performance of the funds compared to their benchmarks to 30 September 2018.
It has been a busy year, both for our staff and our clients, but a very rewarding and enriching year at the same time
Our office will be closing on Friday, 21 December 2018 and reopening on Monday, 7 January 2019.
From 7 January 2019 to 11 January 2019 our office will be open but operating with reduced staffing levels, as we encourage our staff to have a well earned break with family and friends.
We look forward to meeting up with our clients and investors again in the New Year, and we wish you all the best for the festive season.
Profile: Patrick O'Reilly - General Manager Property
Trust Management General Manager Patrick O'Reilly lives and breathes property.
Boasting more than 20 years of senior leadership experience in the property industry for both renowned and growing clients, Patrick is a respected commercial manager known for delivering outstanding results.
Quarter Two, 2018 Update
This edition of the newsletter includes details on our upcoming seminar with Zoltan Moricz on Friday 31st August.
The newsletter also features articles on our recent acquisition of 105 Wiri Station Road in South Auckland as well as the lease of 439 East Tamaki Road to O-I New Zealand.
We also profile our Investment Manager, John Williams.
The update reports on the performance of the funds compared to their benchmarks to 30 June 2018.
Lunch with Zoltan Moricz
We are pleased to welcome you to a lunch with Zoltan Moricz, Senior Director of CBRE Research in New Zealand.
Zoltan joined CBRE in 1994 and has led the New Zealand Research division since 1996.
In addition to his leadership and management roles for the department, Zoltan prepares client presentations and market reports for both general distribution and subscription. He also undertakes consultancy briefs within the office, retail, industrial, land and residential property market sectors and has extensive experience with both public and private sector assignments having undertaken work for a wide range of local government agencies and most major companies involved in commercial real estate within New Zealand.
Profile: John Williams - Investment Manager
John Williams, Investment Manager of Trust Investment, finds satisfaction in assisting charities with attaining better quality results. He describes his role as one similar to a medical professional, but in relation to financial health.
With nearly 30 years and a range of experience in wholesale funds management, John has built a reputation as an experienced and trusted professional.
Quarter One, 2018 Update
This edition of the newsletter includes our Corporate Profile which outlines what we do and how we assist our clients to achieve their outcomes.
The newsletter details the future of finance and accounting, exploring how the world of accounting is just the latest in a number of industries affected by the rise of Artificial Intelligence.
We also profile our CEO, Grant Hope.
The update reports on the performance of the funds compared to their benchmarks to 31 March 2018.
Profile: Grant Hope CEO
By day, Grant Hope is Trust Management’s Chief Executive in charge of strategy and governance.
By night, you can quite literally find him with his hands in the dirt or attaching bait to a hook at his cherished Kaipara Harbour lifestyle block.
Trust Management - What We Do
Describing exactly what it is we do at Trust Management has always been challenging as our services are tailored to our clients unique needs.
Seeing our clients succeed is what gives meaning to the work we do, and why we relentlessly pursue continual improvement in the services and solutions we provide.
Our corporate profile sets out how we assist our clients to achieve their outcomes. It includes examples of how each area of our business has assisted clients to improve outcomes for their charitable purpose and beneficiaries.
End of Year Update 2017
This edition of the newsletter includes important information on a number of changes made by Trust Management to codify ethical screens across all Funds.
The newsletter also details the review of the Balanced Fund, following revisions to the Fund's asset allocation. We also profile our General Manager of Finance, Anne Edwards.
The update also reports on the performance of the funds compared to their benchmarks to 31 December 2017.
Quarter Three, 2017 Update
This edition of the newsletter includes important changes to the Statement of Investment Policies and Objectives (SIPO's) for our Group Investment Funds.
The newsletter also provides information about our Property Fund, including the latest acquisition and leasing activity, as well as further articles in our educational series focused on investment principles.
We also report on the performance of the funds compared to their benchmarks to 30 September 2017.
Quarter Two, 2017 Update
This edition of the newsletter includes an invitation to a lunch seminar with Cameron Bagrie, Chief Economist for the ANZ.
The newsletter also provides information about activity within the Property Fund, including the latest acquistion and leasing. We also report on the performance of the funds compared to their benchmarks to 30 June 2017.
Quarter One, 2017 Update
This update contains information about our office relocation, as well as the activity within our Property Fund, including information in relation to the Izone Driv.
We also provide two more articles from our educational series, and report on the performance of the Funds to 31 March 2017.
2017 New Year, Update
This update contains the sad news of the passing of Archbishop Brown, and congratulations to New Year's Honours winners.
We also outline the changes to the Balanced Fund asset allocation and report on returns to 31 December 2016.
Quarter Three Update
This update contains information about the activity within our Property Fund, including information about the Pumpkin Patch receivership and IZone Drive partial sale.
We also outline the changes to the International Share Fund and report upon the returns to 30 September 2016.
Trust Management appoints Annabel Cotton to Board of Directors
Trust Management is pleased to advise that Annabel Cotton has been appointed to the Board of Directors for Trust Management. Please join us in welcoming Annabel, to read more about Annabel, please click on the link.
Quarter Two Update
This update contains a link to subscribe a friend to our quarterly updates, as well as announcing our success at the Property Institute of New Zealand 2016 awards. We also provide information about what is happening in the investment markets, and give an update on the performance of each of our Funds.
Trust Management obtains Market Service Licence
Trust Management is pleased to announce that the Financial Markets Authority has granted Trust Management a license as a manager of a Managed Investment Scheme ("MIS").
Seven Factors to Consider When Choosing an Active Manager
Many charities appoint an active fund manager to look after their investment portfolio. Active managers research a wide range of shares, bonds and properties, and select those they expect to generate superior returns.
Trust Management Supports West Auckland Hospice
Here at Trust Management, we are focused on equipping charitable trusts with the right resources, advice and support to succeed through good advice and quality investment funds. We are also passionate about supporting local causes through sponsorship opportunities.
Therefore, we were proud to be a sponsor of West Auckland Hospice’s recent Absolutely Fabulous Fashion Show. The show is a charitable event designed to raise funds to support Specialist Palliative Care and provide assistance for West Aucklanders during terminal or life-limiting illness.
Trust Management Supports Mental Health
Trust Management is proud to have sponsored Malcolm Law in his quest to conquer 50 mountain marathon in 50 days. He is doing all this just to raise money for Mental Health Foundation of NZ.
Trust Management's Robust Systems
Trust is at the heart of our business. Without trust, the quality services and advice we provide for our clients is void.
With that in mind, we recently engaged the highly reputable professional services firm Deloitte to carry out an independent quality assurance report on Trust Management’s processes and internal controls.
It is of great importance to us that our clients and potential clients have complete confidence in the way we look after charitable and not-for-profit organisations, and the recent quality assurance report provides third party validation of the quality of our processes and internal controls.
Charitable Organisations Feel the Pinch
Since responsibility for charitable organisations shifted from the Charities Commission to the Department of Internal Affairs earlier this year, Trust Management, and specialist lawyers in the charitable field have noticed how much harder it is for genuine charitable organisations to register.
The shift, which was highlighted in a recent media article, has meant that charities are coming under more scrutiny than ever before, as Internal Affairs cracks down on charitable organisations making profit. This has led to claims that the department is being overzealous in their efforts.