5. INVESTMENTS AT FAIR VALUE THROUGH PROFIT AND LOSS
At At At 30th June 31st December 2020 31st December 2019 2020 GBP'000 GBP'000 GBP'000 GROUP AND COMPANY 111,261 101,518 103,015 ANALYSIS OF INVESTMENT PORTFOLIO Six months ended 31st December 2020 Total Quoted* Unquoted** (level 1 and 2) (level 3) GBP'000 GBP'000 GBP'000 Opening book cost 67,731 8,448 76,179 Opening investment holding gains/(losses) 26,816 20 26,836 Opening valuation 94,547 8,468 103,015 Movement in period: Purchase at cost 6,033 467 6,500 Sales - Proceeds (8,931) - (8,931) - Realised gains on sales 745 - 745 Movement in investment holding gains/(losses) 10,088 (156) 9,932 Closing valuation at 31 December 2020 102,482 8,779 111,261 Closing book cost 65,577 8,915 74,492 Closing investment holding gains/(losses) 36,905 (136) 36,769 Closing valuation 102,482 8,779 111,261
* Quoted investments include unit trust and OEIC funds which are valued at quoted prices. Included within Quoted Investments is one monthly valued investment fund of GBP4,103,000 (30th June 2020: GBP4,076,000) (2019: GBP3,721,000).
** The Unquoted investments, representing just over 7% of the Company's NAV, have been valued in accordance with IPEVC valuation guidelines. The largest Unquoted investment amounting to GBP6,990,000 (30th June 2020: GBP6,990,000) (2019: GBP3,990,000) was valued at the latest transaction price. The second largest investment has been valued based on cost and is in its development phase. A 10% increase or decrease in the earnings of the two largest investments would not have a material impact on the valuation of those investments. Neither investment has reached their maturity and are not valued on the basis of their current earnings.
There were no reclassifications for assets between Level 1, 2 and 3.
5. INVESTMENTS AT FAIR VALUE THROUGH PROFIT AND LOSS continued
Year Six months ended Six months ended ended 31st December 2020 31st December 2019 30th June GBP'000 GBP'000 2020 GBP'000 ANALYSIS OF CAPITAL GAINS AND LOSSES Realised gains on sales of investments 745 8 (2,086) Increase in investment holding gains/( losses) 9,932 5,014 1,874 10,677 5,022 (212)
6. RETAINED EARNINGS
At At At 31st December 2020 30th June 31st December 2019 GBP'000 2020 GBP'000 GBP'000 Capital reserve - realised 5,395 6,769 5,686 Capital reserve - revaluation 36,770 29,959 26,836 Revenue reserve 1,457 1,640 2,172 43,662 38,368 34,694
7. NET ASSET VALUE PER ORDINARY SHARE
31st December 2020 30th June 31st December 2019 GBP'000 2020 GBP'000 GBP'000 Net assets attributable to Ordinary shareholders 122,813 117,559 113,885 Ordinary shares in issue at end of period 71,023,695 71,023,695 71,023,695 Net asset value per Ordinary share 172.92p 165.52p 160.35p
8. TRANSACTIONS WITH THE INVESTMENT MANAGER
During the period there have been no new related party transactions that have affected the financial position or performance of the Group.
Since 1st January 2010 Brompton has acted as Investment Manager to the Company. This relationship is governed by an agreement dated 17 May 2018.
Mr Duffield is the senior partner of Brompton Asset Management Group LLP the ultimate parent of Brompton. Mr Duffield owns a majority (59.14%) of the shares in the Company.
Mr Gamble has an immaterial holding in Brompton Asset Management Group Limited LLP.
The total investment management fee payable to Brompton for the half year ended 31st December 2020 was GBP370,000 (30th June 2020: GBP697,000) (2019: GBP364,000) and at the half year GBP190,000 (30th June 2020: GBP177,000) (2019: GBP177,000) was accrued. No performance fee was payable in respect of the six months ended 31st December 2020 (30th June 2020: GBP623,000) (2019: GBP623,000). The existing performance fee arrangements ceased with effect from 1 January 2020.
The Group's investments include seven funds managed by Brompton or its associates valued at GBP21,998,000 (30th June 2020: GBP19,712,000) (2019: GBP19,680,000). No investment management fees were payable directly by the Company in respect of these investments. -----------------------------------------------------------------------------------------------------------------------
ISIN: GB0002631041 Category Code: IR TIDM: NSI OAM Categories: 1.2. Half yearly financial reports and audit reports/limited reviews 3.1. Additional regulated information required to be disclosed under the laws of a Member State Sequence No.: 95947 EQS News ID: 1177081 End of Announcement EQS News Service =------------------------------------------------------------------------------------
(END) Dow Jones Newswires
March 22, 2021 03:01 ET (07:01 GMT)