Page 89 - NIB Annual Report 12-13 | 13-14

TURKS AND CAICOS ISLANDS NATIONAL INSURANCE BOARD
Notes to Financial Statements, continued Year ended March 31, 2013
25. Financial instruments, continued
(c) Market risk, continued
(ii) Price risk, continued
Asset Class According to IPS
Cash and money market instruments
Fixed income
Convertibles
Real estate and Real estate investment trust U.S. equities
Large cap value Large cap growth Mid cap
Small cap
Non U.S. equities Alternative investments
US$
Amount 2012 %
19,733,912 12% 53,445,486 34% 6,575,783 4% 5,900,000 4%
12,536,487 8% 12,942,769 8% 3,153,104 2% 3,295,974 2% 31,386,922 20% 10,301,586 6%
US$ 159,272,023 100%
The investment portfolio held by NIB at March 31, 2013 and March 31, 2012 was presented in these financial statements as follows:
Cash and cash equivalents Cash at investment managers Cash at banks – savings and
current accounts
Short-term investments
Notes receivable – TCI bank loan Available-for-sale financial assets Long-term receivables Investment property
US$
2013
5,490,239
28,822,010 – – 133,870,860 4,104,906 –
2012
8,093,944
11,324,630 6,044,996 5,500,000
117,769,693 4,638,760 5,900,000
159,272,023
US$ 172,288,015
In compliance with internal investment guidelines a money market fund held by investment managers is considered by NIB as part of available-for-sale financial assets.
Effective April 1, 2011 the long term deposits – net held with TCI Bank were, for IPS reporting purposes, written down to zero. The balance reported per the financial statements of US$4,164,598 at March 31, 2013 (2012 – US$7,635,096) has therefore been excluded from the above tables.
2013 & 2014 ANNUAL REPORT | 85 64