Check out the latest Midlands Quarterly Newsletter
Fund Managers Central Limited (the
manager of Midlands Mortgage Trust) is
delighted to announce the appointment
of Steve Wyn-Harris as an independent
Steve is a well-known farmer, broadcaster,
columnist and director with a farming
career that began in 1985 with the
purchase of a 180ha property in Central
Hawkes Bay after he had graduated from
Lincoln University. The family holding has
since been added to with three other small
blocks so that currently they have 350ha of
sheep, beef and forestry .
Steve writes the weekly ‘From the ridge’
column for NZ Farmers Weekly which has
a circulation of 130,000 and he is familiar
to listeners of Radio Sport and Central
FM broadcasting several times per week
on these stations with themes running
through the range of farming, politics and
Steve’s corporate experience has been
gained at the highest and best levels
having served on the boards of Landcorp
(2003-2007) and Farmlands (2006-2012).
As a community-minded individual he also
serves on various committees and boards
of trustees and will provide great input into
Governance issues as we progress to a
new regime as a licensed manager under
the Financial Markets Conduct Act.
As an independent director on our board,
Steve will chair our audit committee. The
audit committee is not only responsible
for overseeing the audit of the accounts
Steve and Jane Wyn-Harris with their boys Jason, Hugh and Matt.
of Midlands Mortgage Trust and the
management company but also has
oversight on compliance matters for
various aspects of securities legislation
covering the fund’s operations. His
expertise in Human Resource issues
gained at Farmlands and Landcorp will
also be useful.
At home Steve gets considerable help in
running the family business from his wife
Jane and, when at home, their sons Jason,
Hugh and Matt.
Their successful farming operation has
seen them win a number of prestigious
awards in that area over the years and
Steve has also been recognised for
his contributions as an exceptional
In accepting his appointment to the board,
Steve is looking forward to the challenge
of adding to his range of skills in becoming
involved with the Finance industry.
His brand of ‘no nonsense common sense’
will be a welcome addition the range
of skills and experience on the board as
it forges a path to a brighter future for
Inside . . .
News and Views
Events Calendar Performance Snapshot
1 April 2015
1 July 2015
1 Oct 2015
1 Jan 2016
1 April 2016
Unit Pricing 91c 91c91c91c
(from 22 February 2016)
There is no indication that the Reserve
Bank is thinking of moving away from low
interest rates. It is interesting to note that
some economic commentators are now
suggesting that low interest rates are the
norm and what has been seen over the
last 75 years is an anomaly in economic
theory. Volatility in international markets
still persists with the stock market in China
displaying extremely bearish sentiment
and the latest shift in Japanese interest
rates recording a reduction in the 10 year
government bond rate there to 0.00%. It
certainly is challenging to think there are
people who would contemplate tying up
their funds for 10 years for no return!
With kind regards
Loans by Sector as at 29 February 2016
The summer holiday season usually means
that lending during the ﬁrst quarter of the
year is slow to take oﬀ and this year is no
exception. Consequently we have had
a relatively high liquidity position which
has impacted on this quarter’s return.
Nevertheless, our return to investors still
remains comfortably in excess of the one
year bank terms deposit rates and this is
attracting new investment into the fund as
Loans by region as at 29 February 2016
North Island Central
Investors will be delighted to see that
our unit price has moved up to 92c. With
that increase and with new investment
coming into the fund, unitholder funds have
grown in excess of $1 million this quarter.
The growth path for the fund is now well
The fund is required to have a minimum liquidity of 5% of investor funds.
As at 29 February 2016 liquidity amounted to $6,820 million,
being 23.74% of investor funds.
Our trustee will shortly be reviewing our
Licence application before it gets submitted
for consideration by the Financial Markets
Authority. Great progress has been made
with this over the last quarter.
As you will see from our lead article, a
new board appointment has been made
in the form of Steve Wyn-Harris as an
independent director. This amongst other
governance changes in our company is
another step towards achieving our license
under the Financial Markets Conduct
Act. On behalf of the board, the staﬀ and
personally I extend a warm welcome
to Steve and congratulate him on
Bay Of Plenty
News and Views
Stunning nature landscapes
Taranaki and Hawke’s Bay boast some of the most stunning natural environments.
In both regions there are groups ensuring that our parks, beaches, and wildlife are
preserved for generations to come.
In this issue of the Midlands Mortgage trust newsletter we feature projects that you
might be interested in getting involved with.
Get Wild for Taranaki
Taranaki people have a new way to demonstrate their
wild enthusiasm for the region’s natural environment.
Wild for Taranaki provides a direct link between the community and important
environmental projects across the region. People can become involved as friends or
members of the Trust, or volunteer their time and skills, or make donations – there
are many ways to help.
A website www.wildfortaranaki.nz has been set up to provide more information.
The trust aims to support such work in the region by encouraging public
involvement, ensuring co-ordination between groups and agencies in the field,
fostering links and raising funds.
Whio and Kiwi were released into the wild at the launch of Wild Taranaki. The Whio
population on Mt Taranaki was functionally extinct by 1945 due to stoats and rats.
A predator programme in the park covers 7500ha, using 1160 double-set DOC200
traps to provide adequate protection for breeding Whio. Traps are checked by DOC
rangers and dedicated volunteers fortnightly over the peak breeding months when
ducklings are most vulnerable.
if you are interested in becoming a member or a friend of Wild for Taranaki go
to facebook and search for WildforTaranaki or visit www.wildfortaranaki.nz
– Hawke’s Bay
Hawke’s Bay’s Cape Sanctuary
wildlife restoration project
is now home to 20 little
Ten male birds from Kapiti
Island were transferred to the
2500-hectare sanctuary and
they were joined by 10 female
birds from Red Mercury Island
off the eastern Coromandel
Coast in a bid to establish a
new viable population.
They join 11 little spotted kiwi which were transferred to the sanctuary last year have
done well and bred this season.
Cape Sanctuary, on Cape Kidnappers peninsula, is the largest privately owned
and funded wildlife restoration project of its kind in New Zealand. The sanctuary is
owned by the Robertson, Hansen and Lowe families. They hope that the sanctuary
achieves its 50-year vision of restoring coastal biodiversity in the region, and will
provide a new viable population of little spotted Kiwi.
The plan for establishing a new home for little spotted Kiwi at Cape Sanctuary will
involve the Department of Conservation, Cape Sanctuary, Iwi from five Rohe, Kiwis
for Kiwi, and Air New Zealand.
Volunteers play a huge part in this project.
Over 600 have been involved with 50+ active monthly with regular chores such as
servicing bait stations, monitoring rodents, feeding seabird chicks, feeding Kaka,
monitoring Weta and Pateke, growing plants, planting plants, driving Kiwi eggs and
chicks, designing aviaries, and building boxes and burrows.
The Department of Conservation and local Iwi have also been very supportive of
the efforts of the landowners. The achievements thus far would not have happened
without the support of so many people.
If you are interested in becoming a volunteer go to facebook and search for
Cape Sanctuary or contact the Sanctuary’s manager Tamsin Ward-Smith at
By Kem Ormond
360-400gm cooked potatoes (approx. 4 average
sized potatoes) NOTE: these must be above 70
degrees when you mash them (eg still quite warm).
Steam or boil the potatoes until cooked and tender.
Let them stand to dry a little before putting through
potato masher. Make a well in the centre and add
the ﬂour and seasonings.
Work the potato, egg and ﬂour together gently
to make a dough.
When the dough is ﬁrm and smooth roll it out
into long even tubes.
Cut the gnocchi into small pillows ready for
Cook the gnocchi in small batches in rolling, boiling
salted water till the gnocchi ﬂoats to the top.
Cool the cooked gnocchi on oiled trays before
warming through your favourite pasta sauce.
Quickly brown in brown butter and sage leaves
and serve immediately.
Make a quick homemade sauce by crushing a
couple of cloves of garlic into some heated olive oil.
Sweat quickly, add a tin of tomatoes and approx. a
tsp brown sugar. Cook approx. 5 min, season add
gnocchi and gently toss until warmed through.
Tear and add some basil leaves. Serve immediately
in bowls, sprinkle over some parmesan.
Kem Ormond has a passion for good
food, good wine and using local
seasonal produce. She has travelled
and tasted her way around the world
stopping off at cooking schools along
Kem offers cooking demonstrations
in her purpose built French styled home and kitchen,
situated close to the Tuki Tuki Valley, Havelock North
Hawke’s Bay. If food is your passion. . . come and spend
some time with a like minded person!
These classes are relaxed, informal and fun.
For more recipes and upcoming classes visit
Events Calendar April – July 2016
Hawke’s Bay Events
2-10th April 2016 – Festival of Hockey,
3 April 2016 – ITU Short Course World Cup
Top triathletes sample Taranaki’s landscape
in short course action.
See the best players, from the best teams,
playing one of the fastest ball games in
the world. The international component
of the Hawke’s Bay Festival of Hockey will
see eight of the world’s best women’s
teams including our very own Black Sticks
between the 2nd and 10th of April 2016.
Come down to the Unison Hockey Stadium
at the Hastings Regional Sports Park to see
some of the top international players in
action as they play for the Hawke’s Bay Cup.
Be sure get in quick as tickets will sell out
3-26 June 2016 – Winter F.A.W.C!,
F.A.W.C! Food & Wine Classic Hawke’s Bay is
a delicious series of out of the box seasonal
food and wine events held twice a year
throughout Hawke’s Bay.
This June, we are bringing you four fabulous
Winter F.A.W.C! weekends to celebrate the
seasonal goodness winter brings.
15th - 17th July 2016 – Hawke’s Bay Toyota
Deco Winter Weekend,
Celebrate Napier’s mini winter Art Deco
festival, an intimate event featuring the best
Deco events. The Winter Deco Weekend
is all about the Roaring 20s and 30s and
celebrating our unique heritage. This midwinter Deco celebration has a completely
different feel to the February one. Most
events are indoors, it is winter after all, and
this creates a more intimate and compact
experience which regulars have come to
For more information on these events and
others visit www.hawkesbaynz.com
MIDLANDS MORTGAGE TRUST
120 Karamu Road North | PO Box 609 Hastings
Phone: 06 870 3260 Freephone: 0800 870 326
Fax: 06 870 3261
20 May 2016 – Sue Nicholson
- Answers from the Other Side
Waipawa Municipal Theatre, 16 Kenilworth
Answers from the Other Side is the
sensational live show from gifted psychic
medium Sue Nicholson. Sue’s abilities
have been seen on TVNZ’s ‘Sensing
Murder’, the ‘Good Morning’ show and
20/20. Her incredible gift helps to create
a communication link between those who
have passed over to the spirit world and
the living. Through this interaction she is
able to deliver messages to loved ones
and help them reach a sense of peace.
29 April 2016 – Chiefs vs Sharks
Super Rugby comes to Taranaki, playing at
14th May 2016 – Air NZ Hawke’s Bay
Run away to Hawke’s Bay for an all new
running festival incorporating 42km, 21km,
10km and 3km kids run options. Take in the
best highlights of the region, with flat easy
running through local cycle trails, vineyards,
olive groves, quiet country roads - all
finishing at the impressive Sileni Estates
Winery where you can celebrate your
efforts in style. The event courses are flat,
Central Hawke’s Bay
15 May 2016 –Naki Run Amuck
A running race with a difference: river
crossings, mud and sand.
21 May 2016 – Vodafone Warriors vs
World-class league action at Yarrow Stadium
11-12 June 2016 – Taranaki Arts Trail
More than 50 of Taranaki’s studios and art
spaces open their doors.
Prepare to be amazed and enlightened
as Sue connects with both spirit and the
audience in her uniquely compassionate
and uplifting style.
Restricted age group R13 to R18
accompanied by an adult.
22 May 2016 - Into The East
Central Hawke’s Bay Municipal Theatre,
16 Kenilworth Street, Waipawa,
7:00pm – 9:30pm
New Zealand Folk/Alt. Country duo Into
The East are coming to Central Hawke’s
Bay for one show only!
June 3-6 2016 – The Great NZ Craft Show
TSB Stadium. Four full days of great Kiwi
crafts, fabulous shopping and inspiring
June 11-12 2016 – The Antique Fair
Charitable Trust TACT
Pukekura Function Centre (proudly
supporting Taranaki Hospice). All items
for sale including quality antique furniture
vintage tools, quality china, linen, crystal,
art, glass & silver, clocks, books, jewelry
(vintage/modern), collectibles, vintage and
For more information on Hawke’s Bay
events visit www.hawkesbaynz.com
For more information on these events and
others visit www.visit.taranaki.info