{"id":2525,"date":"2021-05-21T07:55:13","date_gmt":"2021-05-21T05:55:13","guid":{"rendered":"https:\/\/norfund.wpenginepowered.com\/annualreport-2020\/?page_id=2525"},"modified":"2021-05-24T20:46:34","modified_gmt":"2021-05-24T18:46:34","slug":"note-4","status":"publish","type":"page","link":"https:\/\/reports.norfund.no\/annualreport-2020\/accounts-and-notes\/notes\/note-4\/","title":{"rendered":"Note 4 – Exited Investments"},"content":{"rendered":"
\n\t\t\t\t\n\t\t\t\t\t

Note 4<\/h4>\n\t\t\t\t\t

Exited Investments<\/h3>\n\t\t\t\t<\/span>\n\t\t\t\t<\/span>\n\t\t\t<\/a>
  1. Accounting principles<\/a><\/li>\n
  2. Segment Information<\/a><\/li>\n
  3. Loans and Investments<\/a><\/li>\n
  4. Exited Investments<\/a><\/li>\n
  5. Payroll Expenses<\/a><\/li>\n
  6. Other Operating Expenses<\/a><\/li>\n
  7. Net financial income\/expense<\/a><\/li>\n
  8. Fixed Assets<\/a><\/li>\n
  9. Other Receivables<\/a><\/li>\n
  10. Tax<\/a><\/li>\n
  11. Bank Deposits, Cash and Cash Equivalents<\/a><\/li>\n
  12. Capital Movements<\/a><\/li>\n
  13. Unused Resources<\/a><\/li>\n
  14. Information on financial market risk and the use of financial instruments<\/a><\/li>\n
  15. Current liabilities and guarantees<\/a><\/li>\n
  16. Events after balance-sheet date<\/a><\/li>\n<\/ol><\/div><\/div><\/div><\/div>\n\n\n

    The note shows estimated gain\/loss and annual IRR during the period of Norfund\u2019s ownership for investments exited in 2020. Total reflow from investments includes all cash flows, for example dividends, sales sums and other returns, during the period of Norfund’s ownership. Investment in and exiting from projects may take place over a period of years, and the estimated realised gain\/loss may thus be entered in the accounts in different periods.<\/p>\n\n\n

    (In 1000s of NOK)<\/th>Fanisi Venture Capital Fund<\/th>Horizon Equity Partners Fund III<\/th>SEAF Sichuan Small Inv. Funds<\/th><\/tr><\/thead>
    Cost price, called and fully paid capital<\/td>96 492<\/td>22 467<\/td>19 921<\/td><\/tr>
    Total reflow investment<\/td>22 253<\/td>18 610<\/td>32 677<\/td><\/tr>
    Gain\/loss (-) on exited investments<\/td>-74 239<\/td>-3 857<\/td>12 757<\/td><\/tr>
    Realised gain \/ loss (-)<\/td>-106 371<\/td>-3 683<\/td>10 563<\/td><\/tr>
    Realised FX gain\/loss (-)<\/td>32 132<\/td>-174<\/td>2 194<\/td><\/tr>
    Year of first disbursement<\/td>2009<\/td>2007<\/td>2001<\/td><\/tr>
    Investment currency<\/td>USD<\/td>ZAR<\/td>USD<\/td><\/tr>
    IRR NOK<\/td>-27%<\/td>-3%<\/td>6%<\/td><\/tr><\/tbody><\/table><\/div><\/div>","protected":false},"excerpt":{"rendered":"

    The note shows estimated gain\/loss and annual IRR during the period of Norfund\u2019s ownership for investments exited in 2020. Total reflow from investments includes all cash flows, for example dividends, sales sums and other returns, during the period of Norfund’s ownership. Investment in and exiting from projects may take place over a period of years, […]<\/p>\n","protected":false},"author":5,"featured_media":0,"parent":2101,"menu_order":3,"comment_status":"closed","ping_status":"closed","template":"","meta":{"norfund_header_layout":"","norfund_header_layout_image_id":0,"norfund_header_layout_image_focal_point_x":0,"norfund_header_layout_image_focal_point_y":0,"norfund_header_layout_suptitle":"","norfund_header_layout_subtitle":"","norfund_header_layout_title":"Notes","teft_cards_image_id":0,"teft_cards_image_focal_point_x":0,"teft_cards_image_focal_point_y":0,"teft_cards_title":"","teft_cards_excerpt":""},"acf":[],"yoast_head":"\nNote 4 - Exited Investments | Annual report 2020<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/reports.norfund.no\/annualreport-2020\/accounts-and-notes\/notes\/note-4\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Note 4 - Exited Investments | Annual report 2020\" \/>\n<meta property=\"og:description\" content=\"The note shows estimated gain\/loss and annual IRR during the period of Norfund\u2019s ownership for investments exited in 2020. 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