Skyrocketing investment markets have enabled the Te Pou Arataki Pounamu o Murihiku / Community Trust South to add more than $38 million to its assets.

The trust, which has handed out more than $186 million in grants over its 33-year history, today announced its results for the financial year (FY) ending March 31, 2021.

It is a much strong result than 2020, when it recorded a deficit after grants of $14.7 million, as the Covid-19 pandemic threatened the global economy.

The investment return for 2021 was 20.8%, for a total income of $38.5m after grants were allocated.

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That brings the total net assets back up to more than $256 million.

Back in 2020, the trust was down -1.4% on its investments and its total assets were $217.5m. As a result, it focused on rebuilding its capital in the 2021 FY and did not have a major grants round.

Investment Committee Chair David Goble says: "We are very satisfied to have achieved this positive result.

"The result puts us in a good position for the future with significant progress having been made towards our capital re-build."

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During the past year, the trust has provided additional funding to areas and organisations most impacted by Covid-19, including mental health programmes, and continued to support organisations that needed it.

It allocated more than $5.4m in grants in the 2021 FY, compared with about $7.5m the previous FY.

That's partially due to having no major grants round (applications over $75k), which had totaled $1.5m in 2020 FY, and also because there were lower applications due to Covid.

Some $1m has been allocated in major grants for 2021-22 FY, and the round is closed for applications.

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General Manager Jackie Flutey says: "Recognising the need in our community the trust has committed to an increased grants budget of $8 million for the year ending 31 March 2022.

"With this additional funding we are well placed to be able to support our community over this upcoming year."

Community Trust South has the highest trust capital of all the community trusts in Aotearoa/New Zealand (per capita).

Following the retirement as Trustee of Trish Boyle, Mata Cherrington has been appointed as Chair of Community Trust South.

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Three new trustees, Melanie Montgomery, Leanne Samuel and Leon Hartnett have been appointed to the Community Trust South board, which includes Southland App owner Kirsty Pickett. 

Full details of the year end 31 March 2021 financial statements are available on the Trust website https://www.communitytrustsouth.nz/about-us/our-trust/

Community Trust South will hold its Annual Public Meeting to formally present the Annual Report including details of its activities over the year and the financial results at 5.30pm on Wednesday, 29 September 2021 at Hokonui Marae, 140 Charlton Road, Gore (subject to Covid-19 alert levels). Members of the public are welcome to attend.