2010 ANNUAL REPORT - AllTeams

RePoRt of the tRuSteeSOur investment portfolio has appreciatedfrom $758,269 as at 30th September 2009to $814,348 as at 30th September 2010.The weighted return was 9.58% for theyear.This is a very pleasing performance givenanother turbulent year globally whereinterest rates have dropped and currenciesappreciated against most predictions.The conservative approach followingon from last year’s implementation ofthe Statement of Investment Policy andObjectives continues to serve our club wellin consultation with our advisors Nigel Scottand Simon Coulter from Craigs InvestmentPartners. We meet with them quarterly tomonitor and review the portfolio.The portfolio generated income of $45,000over the year, from which the club withdrew$40,000 for annual expenses.The separate ‘distressed asset’ portfolio isnow valued at $70,070 and we continueto receive regular repayments withapproximately $15,000 being paid back tothe main portfolio over the year.The club is confi dent that the assets in theportfolio are being managed in a soundand appropriate manner to benefi t the Clublong-term. I thank Nigel and Simon for theirguidance, and also my fellow Trustees, BryanWilliams, Peter Thorp, Bryan Wentworth andAlan White.Grant McCurrachChairman of TrusteesChairman Peter Thorp presenting Gareth Anscombe with Rookie of the Year award for the Premiers team2010 ANNUAL REPORT1