Annual Report 2019

ANNUAL REPORT 2019 257 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 March 2019 Financial assets (liabilities) included in the consolidated statement of financial position Fair value as at Fair value hierarchy Valuation technique and key inputs 31.3.2019 31.3.2018 HK$’000 HK$’000 2c) Unlisted debt securities classified as financial assets at FVTPL (2018: debt securities classified as available-for-sale investments) 359,378 146,423 Level 3 Discounted cash flow Future cash flows are estimated based on applying the interest yield curves of different types of mortgage loans as the key parameter 3) Investment funds classified as financial assets at FVTPL 774,618 588,929 Level 2 Redemption value quoted by the relevant investment funds with reference to the underlying assets (mainly listed securities) of the funds 4) Structured deposits classified as financial assets at FVTPL – 40,500 Level 3 Discounted cash flows Future cash flows are estimated based on applying the expected yields of money market instruments and debt instruments invested by banks and a discount rate that reflects the credit risk of the banks 5) Call/put options in unlisted equity securities and foreign currencies classified as derivative financial instruments – Assets – 468 Level 2 Discounted cash flows Future cash flows are estimated based on applying the expected yields of foreign currency and equity security by banks and a discount rate that reflects the credit risk of the banks 6) Forward foreign exchange contracts classified as derivative financial instruments – Asset – 50 Level 2 Discounted cash flow Future cash flows are estimated based on forward exchange rates (from observable forward exchange rate at the end of the reporting period) and contracted forward rates, discounted at a rate that reflects the credit risk of various counterparties 47. FINANCIAL INSTRUMENTS (continued) c. Fair value measurements of financial instruments (continued)