Press Release – Guardian Trust

Visitors to the Auckland Art Gallery Toi o Tāmaki have a new acquisition to admire, in the form of German contemporary artist Andreas Gursky’s 2010 large-scale photograph Ocean III. Gallery purchases are nothing unusual, but this one is something special: …Guardian Trust Distributes $440,000 for Auckland Art Gallery Acquisition of Major Contemporary Work

Visitors to the Auckland Art Gallery Toi o Tāmaki have a new acquisition to admire, in the form of German contemporary artist Andreas Gursky’s 2010 large-scale photograph Ocean III. Gallery purchases are nothing unusual, but this one is something special: $440,000 of the work’s total cost came from charitable trusts administered by Guardian Trust and established by two art-loving Aucklanders.

Recognising the opportunity to meet the purposes of the trusts and continuing to honour the legacies created by Lyndsay Garland and Graeme Maunsell through their respective trusts, funds were combined to make this substantial contribution. Lyndsay Garland was an accountant and investor whose gift for numbers funded his passion for travel and the arts, and ultimately the charitable trust which gifted $100,000 towards Ocean III.

The other trust which contributed $340,000, was established by Graeme Maunsell in 1992. Little is known about Mr Maunsell beyond his interest in supporting the arts.

The two trusts are among 85 managed by Guardian Trust (of the company’s 462 charitable trusts under management) with the potential to direct funds specifically to support the arts, culture and heritage.

Ocean III is the first work by Gursky to enter a public collection in New Zealand. It is the largest of six photographs in a series depicting major oceans of the world, and one of two featuring the islands of New Zealand.

Since 2000, Guardian Trust has administered regular distributions from the Garland and Maunsell Trusts to fund acquisitions of paintings and photographic works for art galleries. Collectively, more than $1.28 million has been distributed for these purposes to date, including $450,000 towards the acquisition of a Tony Fomison painting by the Garland Trust in 2007.

Guardian Trust’s general manager of personal client services, Philip Morgan Rees, says, “These very generous trusts illustrate how targeted and consistent giving is possible over many years, when the financial vehicles are well-structured and the funds managed effectively.

“Both gentlemen had an interest in supporting the arts and were specific about how distributions were to be directed. The trusts they set up have over the past 12 years purchased outright or contributed to the acquisition of seven works for public display, for the enjoyment of all New Zealanders and in particular the citizens of Auckland.”

About Lyndsay Garland
Born Charles Lyndsay Garland, Mr Garland’s paternal grandfather was a mining engineer based in Thames. Mr Garland’s father, Charles, was the brother of the well-known Tom Garland, a preacher who as ‘Uncle Tom’ presented a national radio programme titled The Friendly Row for over 40 years. Mr Garland was an only child, and attended Auckland Grammar School.

He was stationed overseas as a radio officer during World War II, and on his return to New Zealand became an accountant for New Zealand Insurance. He subsequently worked for a variety of insurance companies in Auckland, while progressively building up knowledge and participation in the stock market. Mr Garland’s wealth was principally acquired through his stock market investments.

Mr Garland harboured a great love of travel, opera and classical theatre, and travelled to Europe regularly throughout his adult life.

About Andreas Gursky and Ocean III
Ocean III (2010) is a large-scale photograph by leading contemporary artist Andreas Gursky of Germany. It is the largest of six photographs in a series depicting major oceans of the world, and one of two featuring the islands of New Zealand. Gursky, known for his immense and striking images of contemporary life, delivers with Ocean III a view of the Pacific Ocean that exceeds 4.5 metres in length and is 2.5 metres high.

The acquisition of Ocean III was funded by the Graeme Maunsell and Lyndsay Garland Trusts (both administered by Guardian Trust), the M A Serra Bequest and the Dingley Trust. Ocean III will hang in the Auckland Art Gallery’s international contemporary exhibition on level one.

About Guardian Trust
Established in 1882, Guardian Trust (The New Zealand Guardian Trust Company Limited) is the leading corporate trustee in New Zealand.

Through its network of offices across New Zealand, Guardian Trust manages or administers $3 billion of client’s assets and provides corporate trustee services for securities with over $64 billion under supervision.

Guardian Trust has been serving generations of New Zealanders for nearly 130 years and is a market leader in trusts, estates and wealth management. As one of New Zealand’s foremost trustee companies, it specialises in estate planning and asset protection; lifecare and lifestyle management; financial advice and investment management; philanthropy; and corporate trusts.

Guardian Trust is the country’s pre-eminent provider of philanthropic services, administering 462 charitable trusts with nearly $600million in funds under management that provided $23 million in funding for charities and good causes in the last financial year. During 2011 Guardian Trust estimates that it provided 11% of all donations from Charitable Trusts in New Zealand making it the trustee to turn to for creating an enduring legacy.

Guardian Trust is a wholly-owned subsidiary of The Trust Company, a leading independent Australian trustee listed on the Australian Stock Exchange.

ENDS

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