Results against performance criterion
1..The Company’s (as trustee for the Army Amenity Funds) investment portfolio currently totals $8,745,595 compared to $8,905,860 in 2018-19. Overall, the operational goals have been met and income generated from the investment portfolio will ensure available cash for future years of operation.
a) The investment strategy approach is to split the investment portfolio between 70 per cent growth and 30 per cent defensive components.
b) The Administrative component of the investment portfolio is to generate sufficient income to fund operating activities. A total of $300,000 was withdrawn for operations in FY 2019-20. This amount has been transferred from growth portfolio to cover future operational activities.
2..The Company’s (as trustee for the Messes Trust Fund) term deposit provided an interest return of $11,645 (last FY $16,970) at this reporting period. The total financial asset is $719,132 (last FY $701,856) as at 30 June 2020.