Meetings and investments
The Trustees normally meet each month except January. When the need arises, additional meetings are held.
In September or October each year, the audited Financial Statements for the year ending 30 June are finalised and presented to the Trustees for adoption.
The Fund aims to achieve, in perpetuity, a stream of income to maintain an annual distribution equivalent to at least 4% of corpus after expenses as well as maintaining a level of corpus that increases above inflation over the longer term.
The Trustees' seek to:
- base investment decisions generally on a long time horizon (i.e. greater than 5 years);
- recognise generational equity between the Fund's current and future beneficiaries by selecting investments that, in aggregate, are expected to deliver an appropriate balance between capital growth and income;
- focus on stability of income (and therefore distributions) over stability of corpus;
- grow the value of the corpus in line with the increasing costs faced by future beneficiaries.
The fund is invested via managed funds and a small directly held portfolio principally in Australian equities. All investments are held in the name of Collier Charitable Fund Custodian Corporation (ABN 33 182 798 985) which is 100% controlled by the Trustees.
As at 30 June 2017, the net assets of the fund were valued at $82 million.
The Annual Financial Report under Financial Reports in News and Publications