AVBOB Financial Statements 2018

107 AVBOB MUTUAL ASSURANCE SOCIETY AND ITS SUBSIDIARIES NOTES TO THE SUMMARISED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018 (continued) #REF! SOCIETY GROUP 2018 2017 2018 2017 R 000 R 000 R 000 R 000 12. Balance at the beginning of the year 11 150 965 10 704 627 11 150 965 10 704 627 Additions 7 188 770 5 582 664 7 188 770 5 582 664 Disposals (4 917 331) (5 027 720) (4 917 331) (5 027 720) Fair value gains/(losses) through profit and loss in the statement of comprehensive income 759 989 ( 108 606) 759 989 ( 108 606) Balance at the end of the year 14 182 393 11 150 965 14 182 393 11 150 965 Listed fixed-income securities 3 102 031 2 138 886 3 102 031 2 138 886 Listed shares 6 626 652 5 309 065 6 626 652 5 309 065 Non-listed foreign investments 3 627 837 2 964 722 3 627 837 2 964 722 Unlisted investments 825 873 738 292 825 873 738 292 14 182 393 11 150 965 14 182 393 11 150 965 Current assets 551 244 249 703 551 244 249 703 Non-current assets 13 631 149 10 901 262 13 631 149 10 901 262 FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS Financial assets at fair value through profit or loss are classified as non-current assets, unless their maturity is within a year, as the assets are kept for long-term yield to the benefit of policyholders. All proceeds from disposals during the year are utilised for additions. Financial assets comprise the following: Financial assets at fair value through profit or loss are managed by Allan Gray South Africa, Investec Asset Management, Old Mutual Investment Group SA, Prudential Investment Managers, Sanlam Investment Management and Stanlib Asset Management. 107