2019 Integrated Report

PPS INTEGRATED REPORT 2019 | 139 15. LIABILITIES TO OUTSIDE UNIT TRUST HOLDERS Group 2019 2018 R'000 R'000 Liabilities to outside unit trust holders Balance at beginning of the year 12 670 465 10 709 000 Investment by outside unit trust holders 2 584 189 5 559 256 Redemptions by outside unit trust holders (2 081 719) (3 752 409) Attributable to outside unit trust holders 1 735 233 154 618 Investment income 882 674 685 573 Gains/(losses) on financial assets 985 051 (421 434) Expenses (132 492) (109 521) Balance at end of the year 14 908 168 12 670 465 Current 14 908 168 12 670 465 Liabilities to outside unit trust holders are classified as Level 2, as the fair value of the unit trust funds are derived from unit prices published by the unit trust fund managers. Group 2019 2018 R'000 R'000 Net assets backing up liabilities to unit trust holders 14 908 168 12 670 465 Financial assets – Investments at fair value through profit or loss (note 5) 14 063 012 11 984 016 Insurance and other receivabes 74 981 56 596 Cash and cash equivalents (note 8) 1 524 621 1 263 730 Insurance and other payables (754 446) (633 877)