Performance

In the 2007 / 2008 financial year HHIT returned 4.6 percent, including foreign currency losses. Without the losses, the return would have been 11.8 percent compared with the benchmark of 13.5 percent (9.0 percent real).

-      HHIT has returned 11.6 percent since inception, only marginally below the benchmark of 12.0 percent.

-      Hancock Victorian Plantations (HVP) contributed strongly to the result, while Tiaki was impacted by the significant exchange rate movements.

-      Management focus is on extracting maximum value from both assets.