Investment Portfolio

  31 July 2018
$’000
31 July 2017
$’000
Strategic Equity Investments    
Surf Hardware International 16,000 16,000
Boundary Bend Limited   14,834 13,961
Carlton Investments 5,648 5,521
Hydration Pharmeceuticals 2,665 2,003
Murray Darling Food Company 2,319 2,045
DiCE Molecules 2,237 1,230
Event Hospitality Group 1,654 1,578
BBBSA Finance 1,400 -
TPI Enterprises Limited 1,363 2,801
Hexima 749 749
Blackfynn 403 -
EFTsure 333 250
Power Pollen Accelerated Ag Technologies 260 -
Other Listed Investments 4,318 3,831
Total 54,183 46,969
Private Equity Funds    
Five V Capital 1,242 300
OurCrowd Australia 1,141 1,092
Our Innovation Fund 750 750
Macquarie Wholesale Co Investment Fund - 884
Other Private Equity Funds 316 275
Total 3,449 3,301
Pacific Coast Shopping Centre Portfolio    
Sub-regional shopping centres 199,861 173,280
Neighbourhood shopping centres 48,800 45,300
Borrowings (89,745) (56,023)
Total 158,916 162,557
Othe Direct Properties    
Sawtell Heights Estate - residential subdivision 11,500 9,044
Solitary 30 - Coffs Harbour development land 3,200 3,190
Other Properties 16,850 16,366
Borrowings (1,600) (1,675)
Total 29,950 26,925
Cash and Other    
Cash 4,065 4,435
Investment lending facility - 3,000
Tax liabilities (6,200) (7,067)
Surf Hardware International consolidation impact1 (991) (1,581)
Fair value impact of Sawtell Commons – residential subdivision2 (2,118) -
Other assets and liabilities 1,410 (3,621)
Total (3,834) (4,834)
Net assets before tax on unrealised gains on equities and investment properties 242,664 237,918
Provision for tax on unrealised gains on equities and investment properties (26,699) (23,942)
Net assets after tax on unrealised gains on equities and investment properties 215,965 213,976
Net assets per share before estimated tax on unrealised gains 4.52¢ 4.43¢
Net assets per share after allowing for estimated tax on unrealised gains 4.03¢ 3.99¢

1 Difference between the investment in Surf Hardware International (at cost) and net assets attributable to the group to the group on consolidation.
2 Fair value of property is based on directors’ valuation, however the property is recorded at cost in the statement of financial position as required by Australian Accounting Standards.