EXAMPLE PAGE - ANNUAL REPORT - THE SWEDISH CLUB - Flipbook - Sida 64
FINANCIAL STATEMENTS - NOTES
21% of the Club's investments are shares.
All exposure in shares is in well-diversified
funds or in indexed-linked securities with
a high rating. Decisions concerning
investments and reallocations of equity
investments are the responsibility of the
Board of Directors through the Finance &
Audit Committee.
Credit risks are associated with the
following items: risk of bond failures,
reinsurance compensations, receivables
from members and guarantees from
counterparts.
Creditworthiness for classes of
financial assets at the fair value1)
The likelihood that the Club’s result
would be significantly impacted by fixed
income portfolio defaults has been
assessed as quite small. At year-end, the
Club had USD 309 (314) million invested
in fixed income products.
AAA
AA
A
BBB
Other
Bonds and other interest-bearing securities
Foreign governments
Other foreign issuers
28,352
5,544
11,589
18,695
3,078
62,918
5,754
84,844
1,449
49,509
Total
33,896
30,284
65,995
90,598
50,958
¹ Rating by Standard & Poor's and Moody's
Liquidity risk is low over the short term since the majority of the investment portfolio can be converted to cash within a few days. The Club
is not, therefore, dependent on financing from capital markets.
Financial assets measured at fair
value through profit or loss
2021
Loans receiveables
measured at
amortised cost
Total
carrying
amount
Fair
value
Assets designated as belonging to this category
Financial assets
Shares
Bonds and other interest-bearing
securities
Other receivables
Cash and bank balances
Other assets
81,565
-
81,565
81,565
309,087
-
222
24,108
646
309,087
222
24,108
646
309,087
- 1)
- 1)
- 1)
Total financial assets
390,652
24,976
415,628
390,652
Financial liabilities measured at fair
value through profit or loss
Other financial liabilities
measured at
amortised cost
Total
carrying
amount
Fair
value
Financial liabilities
Forward exchange agreements
Other liabilities
703
-
6,192
703
6,192
703
- 1)
Total financial liabilities
703
6,192
6,895
703
2021
1)
Disclosure on fair value has not been provided because the carrying amount is deemed as being a reasonable approximation of fair value.
64
THE SWEDISH CLUB ANNUAL REPORT 2021