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VALUE OF THE PORTFOLIO
INVESTMENT PORTFOLIO RETURN (LOCAL CURRENCY)
INVESTMENT PORTFOLIO RETURN (STERLING)
Year ended 31 January 2019
Profit growth and realisations drive 10th consecutive year of double-digit underlying growth
Continued strong operating performance and realisations at significant uplifts to carrying value generated a return of 15.0% in local currencies, or 16.6% in Sterling. These results represent the 10th consecutive year of double-digit underlying portfolio growth, over which time period the Portfolio return has averaged 16.4% p.a. in local currencies. Approximately 35% of the valuation gain in the year came from realisations and IPOs.