S.29.02 ‘Analysis of changes due to investments and financial liabilities’ QRT covers income, gains, and losses on investments other than assets held for unit-linked and index-linked funds.  The S.29.02 log file states “With regards to assets held for unit linked and index linked funds, the adjustment on basic own funds related to valuation is taken into account in template S.29.03.”  However, according to the relevant log file, C0090/R0300 in S.29.03 ‘Analysis of changes due to technical provisions’ appears to be asking for a balance sheet movement between the opening and closing investments index-linked and unit-link funds.  The movement in the investments balance (S.29.03) is not the same as the valuation movement (income, gains and losses) referred to in the S.29.02 log file and this causes a difference.  We have included this difference in C0030/R0250 in S.29.01 ‘ Variation analysis – Analysis of variation of excess of assets over liabilities’ as we are unsure where else to record it.  

Please can you advise if our interpretation of S.29.02 and S.29.03 templates is correct and if so, please can you confirm how we should report the difference in the valuation of investments in linked funds.