More about the Jayar Charitable Trust Print

We are an investment arm of the J R McKenzie Trust, which appoints our trustees. The capital value of the Fund is approximately $10 million.

The Jayar Charitable Trust prides itself on the efficiency of its management:

  • Total costs, including fund manager fees and audit fees, are less than 0.5% p.a. of the capital value of the fund.
  • An average of 4% p.a. in each of the last five years has been distributed.
  • All distributions are made via the J R McKenzie Trust, which already has an efficient system in place for allocating grants.
The Trust’s investment objective is to maximise returns over the long term, with tolerance for a loss one year in seven.

On average the Trust retains 1% more than the rate of inflation. The balance of returns each year is given to the J R McKenzie Trust for distribution.

 

Jayar Charitable Trust Consolidated Deed

If you are interested in reading the Trust's deed it is available for download in PDF format here:

icon Jayar Consolidated Trust Deed (376.01 KB)

Recent Auditor's Report

The Jayar Charitable Trust was audited in 2006 by Horwath Audit (Wellington) and was found to be complying with generally accepted New Zealand accounting practices. For more information Horwath Audit's full report is available for viewing here:

icon 2006 Jayar Charitable Trust Auditors Report (280.37 KB)

Our History

The Jayar Charitable Trust was created in 1996 following a long process that began with the winding up of the Perpetual Trustees Estate and Agency Company of New Zealand in 1975. The company became subject to the Trustees Companies Management Act 1975.

After settlement of all claims, the balance of funds held by the substitute company was in excess of $5 million. The company was obliged to produce a scheme of distribution to charity. To avoid the need to set up a separate trust it was decided to investigate the possibility of using an existing charitable trust.

Discussions were held with the J R McKenzie Trust, which was well placed to take on the distribution of the income from the Perpetual Trustees Substitute Company funds, but was unable to undertake the management of the fund itself.

A solution was to establish the Jayar Charitable Trust to invest and manage the fund and pass the income to the J R McKenzie Trust for distribution. Both Trusts shared the same objects and the Trustees of the Jayar Charitable Trust were appointed by the J R McKenzie Trust.

You can learn more about the McKenzie Family legacy online.