1 For MIRA, AUM represents the enterprise value of assets under management in U.S. Dollars based on enterprise value in proportion to the MIRA-managed equity ownership of each investment, calculated as proportionate net debt and equity value at most recent valuation date (31 March 2019, for the majority of assets).
MIRA defines EUM as market capitalisation, plus fully underwritten or committed future capital raisings for listed funds and committed capital, less any called capital returned to investors for unlisted (private) funds. This includes capital invested in other MIRA-managed businesses. For jointly managed funds, the amount is representative of MIRA’s economic ownership of the joint venture manager. Adjustments are made when MIRA-managed funds invest in other MIRA-managed funds.