Hi Everyone,

I’m pleased to provide our inaugural Development Fund Board Annual Report. I’d like to thank our dedicated team including John Thomson, Adrian Koller, Jason Close, Neil Hannan and our advisers Georgie Wettenhall and Bernd Neubauer for their enthusiasm and contributions this year.

The purpose of the Development Fund Board is to protect the long-term financial viability of the Club by investing in or purchasing capital assets in order to:

1. Maximise returns from and grow assets

2. Maintain financial strength; and

3. Retain financial flexibility.

As a team we made the following progress in our first twelve months!

Held our inaugural board meeting (August 4, 2021)
Reviewed the Club Constitution and discussed our board charter
Elected Rich Wong (Board Chair) and Adrian Koller as (Board Secretary)
Confirmed the value of funds for Development Fund Board management
- The Club Board assigned $222K to the Development Fund (January 2022)
Reviewed the current Club Strategy
Confirmed our new Capital Governance Framework
Confirmed future meeting outlines and decision-making process
Confirmed a process for managing conflicts of interest
Made the decision to invest $100K: to be equally distributed across two diversified Index Exchange Traded Funds (aligned to the Australian ASX 200 and the US S&P 500). Note that we later put this decision on hold during expected market volatility associated with the Federal election and anticipated interest rate rises.
Established an ANZ trading account – after knock backs from banks, false starts and challenges as volunteer club!

We look forward to executing on our investment decisions in the upcoming months and supporting the club to generate future returns from the club’s assets.

Finally, I’d like to thank Adrian and Jason for their support this year and wish them well as they roll off the Board and pursue other interests!

Yours Sincerely,

Rich (aka Wongas)

Development Fund Board Chair