RE: Question
The main difference from last year was $1,000,000 in realized losses versus 15,000,000 in realized gains last year.
On the plus side unrealized gains in the stock portfolio increased by 15,500,000 over the year end amount.
Going forward the yield on the fixed income portfolio inreased from 3.6% to 3.9%. Increased interest rates will help KFS going forward on an earnings basis but will be offset somewhat by lower unrealized gains in the bond portfolio due to higher discount rates.
Did anyone listen to the conference call?
What was the feedback?