2020 INTEGRATED REPORT

5. FINANCIAL ASSETS – INVESTMENTS AT FAIR VALUE THROUGH PROFIT OR LOSS Group 2020 2019 R’m R’m Financial assets excluding third party assets 36 614 33 662 Unit trusts and pooled funds managed for third parties (note 15) 16 852 14 063 Total financial assets at fair value through profit or loss 53 466 47 725 Analysis of financial assets held at fair value through profit or loss Level 1 fair value financial assets Equity securities: – local listed 17 075 15 137 – international listed 687 277 Total level 1 fair value financial assets 17 762 15 414 Level 2 fair value financial assets Debt securities – fixed interest rate: – government bonds and local listed 11 906 10 142 – international listed 399 420 12 305 10 562 Unit trusts and pooled funds: – local unit trusts and pooled funds 16 082 14 693 – international equity unit trusts 4 407 4 065 – international fixed interest unit trusts 237 135 – international balanced unit trusts 2 673 2 856 23 399 21 749 Total level 2 fair value financial assets 35 704 32 311 Total financial assets at fair value through profit or loss 53 466 47 725 The investment in local unit trusts and pooled funds comprises mainly of: 16 082 14 693 – Debt securities 7 919 7 626 – Cash and cash equivalents 209 363 – Equities 5 558 4 954 – International 2 396 1 750 International investments denominated in foreign currencies were translated to Rands at the closing exchange rates at 31 December 2020 of: $1 = R14.69 (2019: $1 = R14.00) N$1 = R1.00 (2019: N$1 = R1.00) At 31 December 2020, investments classified as Level 2 comprise approximately 66.9% (2019: 67.7%) of financial assets measured at fair value. Debt securities are classified as Level 2 as directly observable market inputs other than level 1 inputs have been used to value these bonds. The observable inputs used to determine the fair value of unit trusts and pooled funds classified as Level 2 are the unit prices published by the unit trust fund managers. At 31 December 2020, no financial assets are classified as Level 3 (2019: nil). PPS INTEGRATED REPORT 2020 | 149