6. Financial assets – investments at fair value through profit or loss (continued) The following valuation approaches are applied for the subsequent measurement of the fair value of the underlying investments of the Old Mutual Midina Fund: • Discounted cash flow model • Comparable company valuation multiples • Comparable market pricing Inter-relationship between key unobservable inputs and fair value measurement: Key unobservable input Fair value measurement impact Future cash flows Higher cash flows = Higher fair value Discount rate Lower discount rate = higher fair value Adjustment to multiples comparable companies Higher multiple = Higher fair value Market value of properties not completed Higher estimated value = higher fair value Comparable sales of houses in the area Higher comparable sales value = higher fair value International investments denominated in foreign currencies were translated to Rands at the closing exchange rates at 31 December 2022 of: $1 = R16.93 (2021: $1 = R15.94) N$1 = R1.00 (2021: N$1 = R1.00) The Group invested N$709m (2021: nil) in the Prescient Investment Management - PPS Namibia Portable fund. This is a pooled fund of which PPS Namibia holds 100% of the underlying assets. 131 Notes to the Consolidated Financial Statements
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