Ann: Blue Sky H1 FY19 Results Update, page-67

Ok I might be wrong here but it seems to me.

NTA

From page 19

Payments for equity investments 8.9m
Bridging finance and loans to funds 13.8m

Net cash used in investing activities 19.3m


Page 15 of the results presentation shows this on a per share basis

Balance sheet investments 84 cents per share
plus
Bridging finance and working capital loans 47cents per share

Page 16 of the results presentation shows more NTA changes.

Using this if you add the 32 cents per share negative impact of AASB 15 and the 62 cents per share negative impact of the Oaktree loan back onto the 130c end result you would have had a increase in NTA from 192c cents per share to 224c cents per share without these items.

Page 24 shows the FEAUM movement.

331m reduction from retirement living (they sold it at a profit)

64m reduction from hedge funds(they refunded the money and no longer do this type of investment)

230m reduction in Residential property. (they cancelled some projects and refunded the money)

These 3 total 625mIf you add that 625m to the end result of 2.974m you would have had an increase in FEAUM from 3.412m to 3.559m


P26 Returns to fund investors net of fees since inception through to 31st December 2018

		overall	realised
1	Growth Capital	9.2%	19.5%
2	Venture Capital	3.3%	13.3%
3	Private Real Estate	9.8%	17%
4	Real Assets	18.9%	18.8%
5	Firm Aggregate	12.9%	17.3%

(I think here that overall means as yet unrealised funds are added at carrying value. In the last 5 years 24 of 35 exits were at or above carrying value. Past performance is not a reliable indicator of future performance)