b'FORGING TRANSFORMATION. FOSTERING SUSTAINABILITY. NOTES TO THE SPECIAL PURPOSE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30 JUNE 2018(Expressed in Trinidad and Tobago Dollars)24Financial risk management (continued)Market RiskInterest rate risk (continued)Non-3 mths-1 yr-OverinterestGrandAsset allocation -<1 mth1-3 mths1 yr5 yrs5 yrsbearingtotal2017$000$000$000$000$000$000$000Bonds (local)161,500190,449797,9702,171,7004,644,7827,966,401Bonds (foreign)216,60068,529285,129OMOs101,45714,776116,233Equities (local)7,014,1837,014,183Equities (foreign)3,879,0973,879,097Mutual funds (local)839,469839,469Mutual funds (foreign)86,04586,045Investment income receivables68,01368,013Cash and cash equivalents2,202,851182,827 344,723 2,730,401Total2,364,351474,733797,9702,403,0764,713,31112,231,53022,984,971Fair value sensitivity analysis for variable rate instrumentsA change of 100 basis points in interest rates at the year end would have increased/(decreased) the total funds by the amounts shown below. This analysis assumes that all other variables, in particular foreign currency rates, remain constant. The analysis is performed on the same basis for 2018. 100bpincrease 100bpdecrease $000 $000June 2018 (415,085)415,085June 2017(431,814)431,814Market RiskCurrency riskThe NIBTT is exposed to currency risk with respect to its investments in cash and cash equivalents denominated in United States dollars. Currency risk is the risk that the value of a financial instrument will fluctuate due to changes in foreign exchange rates. The portfolio is monitored on a monthly basis.67'