Fonterra Shareholders' Fund (ASX:FSF) Financial Performance

Fonterra Shareholders' Fund (FSF) has reported a strong financial performance for the year ended 31 July 2024. The Fund's net assets per unit on issue was $3.95, reflecting an increase from the previous year. The Fund declared a final distribution of 40 cents per unit for the year, with a record date of 2 October 2024 and a payment date of 11 October 2024. This distribution, combined with the interim distribution, totals 55 cents per unit for 2024. The annualized total unit holder return over the two financial years is 34%, comprising a 20% cash return and unit price appreciation of 14%. The Fund's performance is tied directly to Fonterra's performance, and the Board of FSF Management has been monitoring the interests of unit holders and liaising regularly with Fonterra.

FSF Management's Perspective

The Fund's financial statements comply with New Zealand Equivalents to International Financial Reporting Standards (NZ IFRS Accounting Standards) and have been prepared in accordance with Generally Accepted Accounting Practice (GAAP) applicable to for-profit entities. The Fund's financial instruments primarily comprise of investments in Economic Rights and amounts attributable to unit holders, both carried at fair value with fair value changes recognized in profit or loss. The Fund has no direct exposure to interest rate, foreign exchange, or credit risk. Key Management Personnel (KMP) are considered to be the Directors of the Manager, and as at 31 July 2024, 150,541 units with a value of $594,637 were held by KMP.

FSF Annual Report Overview

The annual report for the year ended 31 July 2024 provides an insight into FSF's financial performance, distribution, and key financial and governance details. The Fund's net assets per unit on issue was $3.95, and it declared a final distribution of 40 cents per unit for the year, totaling 55 cents per unit for 2024. The annualized total unit holder return over the two financial years is 34%, comprising a 20% cash return and unit price appreciation of 14%. The report also covers various aspects such as corporate governance principles, board composition, risk management, and unit holder rights and relations. The Fund's performance is directly linked to Fonterra's performance, and the Board of FSF Management has been actively monitoring the interests of unit holders and maintaining regular communication with Fonterra.