Investments
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Greater Wellington has a significant portfolio of investments comprising:
- Liquid financial deposits
- Greater Wellington’s treasury management function
- Administrative properties (eg, depots)
- Forestry and business units
- Equity investments in the WRC Holdings Group (including CentrePort Limited)
- Rail rolling stock and related transport infrastructure
Greater Wellington recognises that, as a responsible public authority, any investments held should be for the long-term benefit of the community, with any risk being appropriately managed. It also recognises that lower risk generally means lower returns.
From a risk management point of view, Greater Wellington is aware that its investment returns are exposed to the success or otherwise of its two main investments – the WRC Holdings Group (including CentrePort Limited) and its liquid financial deposits. At an appropriate future time, Greater Wellington believes it could continue to reduce its risk exposure by reducing its investment holdings and using the proceeds to repay debt. The timing of these divestments would be in accordance with Greater Wellington’s objective to optimise the overall return to ratepayers.
It is important to appreciate that Greater Wellington’s investments contribute approximately 11% to the total level of regional rates. In other words, regional rates would need to be 11% higher were it not for thecontribution from Greater Wellington's investments.
Download
Download the Investments (PDF, 107KB) section of the Annual Plan which includes details on WRC Holdings Group and CentrePort as well as the prospective Income Statement.