Investment Portfolio

  31 July 2019
$’000
31 July 2018
$’000
Strategic Equity Investments    
Surf Hardware International 16,000 16,000
Boundary Bend Limited   14,834  14,834
Carlton Investments 6,579 5,648
DiCE Molecules 2,411 2,237
BBBSA/Trailblazer Finance 2,400 1,400
Murray Darling Food Company 2,157 2,319
NSX Limited 2,100 -
Event Hospitality Group 1,494 1,654
Phalla Pharma/TPI Enterprises Limited 1,406 1,363
Hydration Pharmaceuticals 1,393 2,665
Hexima 949 749
Blackfynn 403 403
EFTsure 358 333
Power Pollen Accelerated Ag Technologies 260 260
Other Listed Investments 5,679 4,318
Total 58,423 54,183
Private Equity Funds    
Five V Capital 1,743 1,242
OurCrowd Australia 1,375 1,141
Our Innovation Fund 1,303 750
Other Private Equity Funds 486 316
Total 4,907 3,449
Pacific Coast Shopping Centre Portfolio    
Sub-regional shopping centres 177,991 199,861
Neighbourhood shopping centres 46,640 48,800
Borrowings (89,745) (89,745)
Total 135,886 158,916
Other Direct Properties    
Sawtell Commons - residential subdivision 11,500 11,500
Solitary 30 - Coffs Harbour development land 3,317 3,200
Other Properties 15,249 16,850
Borrowings (1,425) (1,600)
Total 28,641 29,950
Cash and Other    
Cash 9,754 4,065
Tax liabilities (9,859) (6,200)
Surf Hardware International consolidation impact1 (415) (991)
Fair value impact of Sawtell Commons – residential subdivision2 (380) (2,118)
Other assets and liabilities (20,991) 1,410
Total (21,061) (3,834)
Net assets before tax on unrealised gains on equities and investment properties 206,796 242,664
Provision for tax on unrealised gains on equities and investment properties (15,672) (26,699)
Net assets after tax on unrealised gains on equities and investment properties 191,124 215,965
Net assets per share before estimated tax on unrealised gains 3.83¢ 4.52¢
Net assets per share after allowing for estimated tax on unrealised gains 3.54¢ 4.03¢

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.