b'CHP financial statements 2020/2021Notes to the financial statements Reconciliation of opening and closing balances of the fair value of fund assets as at 31 March Group asset share 2020/2021 2019/20202020/2021 2019/2020000000 % of total 000 % of total 000Opening fair value of assets 47,90348,765 Equities 62%39,12959% 28,039Interest on assets 1,1431,186 Gilts 3%1,6344% 2,065Return on assets less interest 12,799(3,745) Other bonds 5%3,1776% 2,902Actuarial gain/(loss) on assets -422 Property 7%4,5089% 4,308Contributions by the employer 1,8001,833 Cash 5%2,9884% 1,991Contributions by the members 589622 Alternative assets 12%7,31612% 5,518Estimated benefits paid net of transfers in (879)(1,165) Other managed funds 7%4,5736% 3,080Administration expenses (30)(15) Total value of fair assets 100%63,325100% 47,903Closing fair value of assets 63,32547,903The total return on the fund assets for the year ending 31 March 2020 is (2,559k) (2018/2019: 2,758k).Net pension deficit as at 31 March2020/2021 2019/2020 Amounts recognised in the statement of comprehensive income0000002020/2021 2019/2020Present value of the defined benefit obligation (84,067) (61,057)Fair value of fund assets 63,32547,903 000000Net defined pension liability (20,742)(13,154)Service cost (2,873)(3,793)Net interest on defined liability (asset) (289)(308)Administration expenses (30)(15)Total loss (3,192)(4,116)88 89'