The international portfolio includes various call accounts, term deposits, unlisted managed funds, listed hybrids, as well as listed and unlisted equities. The total international portfolio holding as at 31 December 2009 was K221.7 million, which represented 8.1% of the total investment portfolio.
The international portfolio is structured to allown the Fund flexibility and voncenient access to companies that will benefit from economic growth outside of PNG.
Listed equities within the International Portfolio as at 31 December 2009 (market value K45.5 million)
| Listed equities |
Industry/sector |
| Alpha Financial Products Ltd |
Managed Income Note |
Barclay discretionary mandate
|
Various |
| Bendigo & Adelaide Bank |
Banking/ Finance |
BHP Billiton Limited
|
Mining |
| Bougainville Copper |
Mining |
| Commonwealth Bank of Australia |
Banking/ Finance |
| Ishares - MSCI all country Asia (ex Japan) |
Exchange traded fund
|
| Macquarie Infrastructure Group |
Infrastructure |
| Macquarie Media Group |
Communication |
| RiverCity Motorway Group |
Infrastructure |
| Mahogany Capital Ltd |
Managed Income Note |
| Transurban Group |
Infrastructure |
| Multiplex Sites Trust |
Property Trust |
| Telstra |
Communication |
Westpac Banking Corporation
|
Banking/ Finance
|
Unlisted securities within the International Portfolio as at 31 December 2009 (market value of K33.6 million).
| Unlisted Securities |
Industry/ Sector |
ABN AMRO Social Infrastructure Trust (ASIT)
|
Managed Income Note |
| AMP Capital - China Fund |
Banking/ Finance
|
| Callable Accrual Range Securities |
Managed Income Note |
| Corsair (Jersy) No. 2 Limited |
Managed Income Note |
| Cypress Tree Synthetic CDO Limited II |
Managed Income Note |
| Herald Limited Series 24 |
Managed Income Note |
The International Portfolio also includes serveral alternative investments with a total value of K94.7 million, selected and managed by Access Capital Advisors (ACA), an Australian based investment manager specialising in alternative investments. Independent valuers conduct annual valuations of these investments, which are also subject to ACA's internal assessment process. As with many alternative investments, the value of the ACA portfolio was difficult trading conditions during the year.
| Description |
Industry |
| Carrix Inc |
Container - Maritime - US |
| FKP Core Plus Fund 1 |
Property Trust - Australia |
| FKP Core Plus Trust 2 |
Property Trust - Australia |
| Inglewood Farms |
Agriculture - Australia |
| Isle of Man Steam Packets |
Sea Transport - UK |
| R.M Williams Agricultural Holdings |
Agriculture - Australia |
| Smarte Carte |
Airport trolley hire - US |
| Southern Water |
Infrastructure, Water, Sewerage - UK |
Spirit Finance
|
Property/Finance - US |
| Tata Realty Investment Fund 1 |
Property Trust - India |
