PPS Integrated Report 2021 Notes to the Consolidated Financial Statements | 160 Notes to the Consolidated Financial Statements (continued) for the year ended 31 December 2021 6. FINANCIAL ASSETS – INVESTMENTS AT FAIR VALUE THROUGH PROFIT OR LOSS Group 2021 2020 Restated R’m R’m Financial assets excluding third party assets 41 171 36 614 Unit trusts and pooled funds managed for third parties (note 16) 11 617 8 856 Total financial assets at fair value through profit or loss 52 788 45 470 Analysis of financial assets held at fair value through profit or loss Level 1 fair value financial assets Equity securities: – local listed 18 587 16 967 – international listed 5 218 2 618 Total level 1 fair value financial assets 23 805 19 585 Level 2 fair value financial assets Debt securities – fixed interest rate: – government bonds and local listed 16 580 14 318 – international listed 399 399 16 979 14 717 Unit trusts and pooled funds: – local unit trusts and pooled funds 4 715 3 628 – international equity unit trusts 4 192 4 630 – international fixed interest unit trusts 300 237 – international balanced unit trusts 2 797 2 673 12 004 11 168 Total level 2 fair value financial assets 28 983 25 885 Total financial assets at fair value through profit or loss 52 788 45 470 International investments denominated in foreign currencies were translated to Rands at the closing exchange rates at 31 December 2021 of: $1 = R15.94 (2020: $1 = R14.69) N$1 = R1.00 (2020: N$1 = R1.00) At 31 December 2021, investments classified as Level 2 comprise approximately 54.9% (2020: 56.9%) 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 2021, no financial assets are classified as Level 3 (2020: nil).
RkJQdWJsaXNoZXIy NzI4MzY4