The chart below sets out the gross portfolio return for the Group for the past three financial years. This continued good performance reflects both the focus and discipline of our investment teams and favourable market conditions through the year.
Gross portfolio return comprises the income and capital return (both realised and unrealised value movement) generated from the portfolio and is expressed as a percentage of opening portfolio value.
2004 has been restated as unrealised currency movements are no longer included within gross portfolio return.
* As restated for the adoption of IFRS.