18 Investments
Investments
| At fair value through other comprehensive income | At fair value through profit or loss | At amortized cost | Total | |||||
| AED’000 | AED’000 | AED’000 | AED’000 | |||||
| 2023 | ||||||||
| Equity instruments: | ||||||||
| – Quoted * | 73,003 | 20,972 | – | 93,975 | ||||
| – Unquoted | 32,844 | – | – | 32,844 | ||||
| Debt instruments | ||||||||
| – Quoted – Fixed rate | – | – | 44,916 | 44,916 | ||||
| Unquoted investment
in managed funds |
611 | – | – | 611 | ||||
| 106,458 | 20,972 | 44,916 | 172,346 | |||||
| Within UAE | 103,322 | 20,972 | 44,916 | 169,210 | ||||
| Outside UAE | 3,136 | – | – | 3,136 | ||||
| 106,458 | 20,972 | 44,916 | 172,346 | |||||
| 2022 | ||||||||
| Equity instruments: | ||||||||
| – Quoted * | 129,779 | 58,831 | – | 188,610 | ||||
| – Unquoted | 45,143 | – | – | 45,143 | ||||
| Debt instruments | ||||||||
| – Quoted – Fixed rate | 33,864 | – | – | 33,864 | ||||
| Unquoted investment
in managed funds |
730 | – | – | 730 | ||||
| 209,516 | 58,831 | – | 268,347 | |||||
| Within UAE | 204,776 | 58,831 | – | 263,607 | ||||
| Outside UAE | 4,740 | – | – | 4,740 | ||||
| 209,516 | 58,831 | – | 268,347 | |||||
The Group holds investments in Tier 1 perpetual instruments which are classified under quoted equity instruments amounting to AED 2,537 thousand (2022: AED 3,827 thousand). These instruments carry an average coupon interest/profit rate between 5.25% p.a. to 6.25% p.a (2022: 5.25% p.a to 6.50% p.a).
* Included in this balance investments in shares amounting to AED 65,206 thousand (2022: AED 74,570 thousand) in the name of related parties who has given the parent company full control to act as owner of these shares.
During the year, the Group has redeemed investments on maturity carried at amortized cost of AED Nil (2022: AED 1,847 thousand).
