NTUC Income AR 2019

NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019 4. MANAGEMENT OF INSURANCE AND FINANCIAL RISKS (CONTINUED) (f) Fair value measurements The following table presents our financial assets and liabilities measured at fair value and classified by level of the following fair value measurement hierarchy: (a) quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1); (b) inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices) (Level 2); and (c) inputs for the asset or liability that are not based on observable market data (unobservable inputs) (Level 3). 2019 Level 1 $’000 Level 2 $’000 Level 3 $’000 Total $’000 Assets Investments designated at fair value through profit or loss – Equities 5,730,200 10 – 5,730,210 – Funds 3,045,316 – – 3,045,316 – Debt securities 23,463,027 – 700 23,463,727 Available-for-sale investments – Equities 75,213 – 44,952 120,165 – Funds 137,060 – 2,202,227 2,339,287 – Debt securities 657,802 – – 657,802 33,108,618 10 2,247,879 35,356,507 – Derivative financial instruments 4,403 216,791 – 221,194 33,113,021 216,801 2,247,879 35,577,701 Liabilities – Derivative financial instruments (5,092) (79,164) – (84,256) ANNUAL REPORT 2019 91