The LLP holds a portfolio of financial investments comprising listed and unlisted securities. The movement in the fair value of investments during the year is summarised above.
Investments are classified as financial assets measured at fair value through profit or loss. They are revalued at each reporting date, with changes in fair value recognised in the income statement. Additions include both new investments made during the year and interest earned on existing investments that was reinvested. Disposals include transfers of investment assets to members upon retirement or withdrawal from the LLP.
The net fair value adjustment during the year amounted to $1,622,681 recognised in ‘Fair value gains on investments’ within the profit and loss account.