Annual Report 2024 - TCorp

About this report

FY24 was another year of significant economic and investment challenges, TCorp remained focused on supporting the NSW Government and our clients to deliver on their priorities. We continued to adapt to meet the needs of the NSW Government, including through the creation of the OneFund, an initiative which combines several funds and collectively represents around $47bn in assets under management.

Our aggregated portfolios returned 7.0% overall, reflecting market returns of $7.5bn. The financial markets team completed $32bn of bond issuance to support major NSW Government programmes.

FY25 Financial highlights Providing resilience for the state over the long term

Cumulative investment returns generated for the state since 1 July 2015 (inception of funds management amalgamation)

Achieving significant financial impact for NSW Dividend

Supporting sustainable outcomes $2.1bn of sustainable bonds issued over the year, with total issuance under the NSW Sustainability Bond Programme standing at

Supporting the state New term funding (borrowing at fixed terms greater than one year)

$16.6 bn

Helping local government Council loans - $257.9mn approved over the year, with total lending commitments at

$1.3 bn

Assets under management Unlisted assets of $20.5bn with total assets under management at

$118.6 bn

Annual Reports

TCorp produces an annual report which gives details of our aims, objectives, corporate performance and operations each financial year. We also prepare an annual report on the NSW Sustainability Bond Programme. In this section, you will find copies of each report available in electronic format.