Rotorua Trust invests more than $5m in community in past year

Rotorua Trust manager Tony Gill (left) and chairman Stewart Edward. Photo / Supplied

Rotorua Trust has injected close to $5.2 million into the community over the past year.

This was revealed in the trust's annual general meeting where the 2020/21 financial results were outlined.

Trust chairman Stewart Edward said the $5,188,239 invested was distributed through 275 grants, covering a range of worthy projects and initiatives.

It had now contributed a total of $129.7m to the local community since its inception in 1994.

"The trust is proud to support many wonderful people and organisations who are doing important mahi across our community, covering all of our key focus areas of health, education, vibrancy, environment and strengthening communities," Edward said.

"We were also pleased to be in a position to financially support organisations through the Covid-19 pandemic and aim to continue growing our reach through careful portfolio management."

Funding highlights from 2020/21 included $854,563 for 66 grants to make Rotorua more vibrant through arts, culture, and sports activities; $1,930,901 invested across 54 grants to focus on health and the first 1000 days; and 10 grants worth $192,000 into projects relating to energy and the environment.

Education and employment opportunities for young people were bolstered by $1,250,291 across 67 grants, while 78 grants and a total of $960,484 went towards projects that strengthen the community.

Edward said that after watching Covid-19 impact global investment markets at the beginning of 2020, it was reassuring to see the trust's investment portfolio recover quickly.

"Rotorua Trust's financial position came out of the Covid-19 pandemic relatively unscathed, largely thanks to the expertise of our international fund's manager Mercer (NZ) Ltd, who maintained a diversified portfolio that lifted the trust's investment fund to a record level of just under $170m by year-end.

"Rotorua Trust investments returned 21 per cent for this financial year, 5.6 per cent above its benchmark."

He said it has also reached two major milestones in the past 12 months - the sale of its Eruera St building and its rebrand as Rotorua Trust.

"The rejuvenated brand, new premises and renewed direction will help to grow our reach across the community, and ensure we can continue to support the kaupapa and initiatives that matter most for Rotorua."