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Market risk arises primarily from uncertainty about future prices of financial devices used within the Group’s business. It represents the potential loss the Group would possibly suffer through holding market positions by way of price movements and actions in change rates and rates of interest. The Investment Manager assesses the publicity to market danger when making every funding choice and these dangers are monitored by the Investment Manager regularly and the Board at quarterly conferences with the Investment Manager. For investments actively traded in organised monetary markets, truthful worth is usually determined by reference to quoted market bid prices on the shut of business on the Balance Sheet date, with out adjustment for transaction costs needed to grasp the asset. The financial statements are presented in Sterling rounded to the nearest thousand.
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