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Year in Review

A pre-tax operating profit of $31.8m, achieved in an environment of extreme turmoil across the global and domestic fixed interest markets. Maintained a healthy balance sheet, which grew to over $37bn by year end. Prudent credit and liquidity management practices resulted in no credit losses or expected writedowns on exposures. Continued strong demand for TCorp’s Benchmark Bonds, with outstandings rising to a record $28bn by year end. Excellent results on debt management with significant outperformance of benchmarks for all clients across $19bn of managed portfolios. Sound performance across TCorp’s in-house asset management portfolios, with conservative credit positioning evident across all portfolios. Broad range of advisory work for NSW Treasury and government agencies, on a range of public private partnership projects, and other financing arrangements. Successful issue of almost $1bn of Consumer Price Index (CPI) Bonds over the year.

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