Statement of Changes in Net Assets
for the year ended 31 December 2017
| Discretionary Portfolio | Directed Portfolio | Total | |||||
|---|---|---|---|---|---|---|---|
| Note | 2017 €m |
2016 €m |
2017 €m |
2016 €m |
2017 €m |
2016 €m |
|
| Profit/(loss) for the year | 345 | 234 | 2,570 | (1,110) | 2,915 | (876) | |
| Transfers to the Exchequer | 11 | - | - | (3,459) | - | (3,459) | - |
| Assets transferred between portfolios | 250 | 0 | (250) | - | - | 0 | |
| Increase/(decrease) in net assets | 595 | 234 | (1,139) | (1,110) | (544) | (876) | |
| Net assets at beginning of year | 8,091 | 7,857 | 12,891 | 14,001 | 20,982 | 21,858 | |
| Net assets at end of year | 8,686 | 8,091 | 11,752 | 12,891 | 20,438 | 20,982 | |
The accompanying notes form an integral part of the financial statements.
On behalf of the Agency
Conor O’Kelly, Chief Executive
National Treasury Management Agency
Willie Walsh, Chairperson
National Treasury Management Agency
29 May 2018