Page 31 - Proof no 3

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2018 (CONTINUED)
5. Investments in Securities (continued)
Financial assets at fair value through profit or loss (continued)
As of 31 December 2018, the cost of financial assets at fair value through profit or loss totaled $3,637,511 (2017: $3,800,397) of which $1,850,775 (2017: $2,122,775) represented Level 3 securities.
Level 2
Equity securities
Level 3
Equity securities Investment funds
Total financial assets at fair value through profit or loss
Movements in financial assets at fair value through profit or loss comprise:
Balance as of 1 January 2018 Purchases
Sales
Net realized gain/(loss)
Net change in unrealized appreciation/(depreciation)
Balance as of 31 December 2018
Balance as of 1 January 2017 Purchases
Sales
Net realized gain/(loss)
Net change in unrealized appreciation/(depreciation)
Balance as of 31 December 2017
The Level 3 equity securities represent investments in a related party property development company, with real estate development in Eleuthera, Bahamas; the Group does not have a controlling interest in any of the investee companies. The underlying net asset values of the investee companies are most sensitive to changes in property prices and development costs. A decrease in property prices of 25% would result in a decrease in the fair value of Level 3 equity securities of $588,212 (2017: $594,072).
31
2018 $
2017 $
3,128,657
2,502,846 257,680
3,322,933
2,526,390 255,150
2,760,526
2,781,540
5,889,183
6,104,473
Level 2 $
Level 3 $
Total $
3,322,933 60,727
(21,102 ) (12,718 )
(221,184 )
2,781,540 – –
(272,000 ) 250,987
6,104,473 60,727
(21,102 ) (284,718 )
29,803
3,128,656
2,760,527
5,889,183
Level 2 $
Level 3 $
Total $
3,038,240 – – –
284,693
3,097,305 – – –
(315,765 )
6,135,545 – – –
(31,072 )
3,322,933
2,781,540
6,104,473