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Quayside Securities Limited

Quayside Securities Limited

Quayside Securities Limited was established in 1991 and has the purpose to act as a corporate trustee for trusts held within the Group.  Quayside Securities Limited is trustee for both Quayside Unit Trust and Quayside Investment Trust.

Quayside Securities Limited is 100% subsidiary of Quayside Holdings Limited. Quayside Securities Limited and Quayside Holdings Limited have Directors in common.

 

Quayside Unit Trust

Quayside Securities Limited acts as trustee for Quayside Unit Trust, majority holder of New Zealand's most productive and profitable port, the Port of Tauranga Limited.

History

Quayside Unit Trust acquired a majority interest in the Port of Tauranga Limited from the Bay of Plenty Regional Council in 1991 for $53 million, funded by borrowing.  The Unit Trust continues to hold this majority interest in the Port of Tauranga Limited as a regionally strategic investment, and currently holds 73,687,536 shares, or 54.14% of the Port.

Financial Assets

As at 30 June 2015, the investment held by Quayside Unit Trust in the Port of Tauranga Limited had a market value of $1,275 million.

In addition Quayside Securities Limited acts as a trustee for a share investment portfolios, investing in New Zealand, Australian and International Equities.  The value of the portfolios at 30 June 2015 was $41 million. 

Governance

Quayside treats its holding in the Port of Tauranga Limited and its holdings in other shares as long term investments.  In relation to the investment in Port of Tauranga Limited, Quaysides focus is on ensuring that the Port has access to the best available Directors and that the Port has the ability to be truly commercially focused.

The benefit to Quayside of this approach is evidenced by a 20 times increase in value of the Port of Tauranga Limited investment since 1991.

The share investment portfolio is governed by a Statement of Investment Performance and Objectives (SIPO) and Responsible Investment Policy.

  

Quayside Investment Trust

Quayside Securities Limited acts as trustee for Quayside Investment Trust, a wholly owned PIE investment trust.

History

Quayside Investment Trust was established in March 2014.  The trust is a Private Investment Entity (PIE).  The Group's intention is to migrate share assets over a period of two years from establishment. Quayside Securities Limited acts as trustee for a portfolio of $51 million at 30 June 2015.

Governance

Quayside Investment Trust treats its holdings in other shares as long term investments.  The share investment portfolio is governed by a Statement of Investment Performance and Objectives (SIPO) and Responsible Investment Policy.

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