For the year ended March 31 (in thousands of dollars).

Statement of cash flows
Cash flows from operating activitiesEstates and trusts – 2025Estates and trusts – 2024Administration fund – 2025Administration fund – 2024
Total comprehensive Income (Loss)N/AN/A

17,582

16,543

Estates and trustsN/AN/AN/AN/A
Change in net assets attributable to beneficiaries before undernoted:

120,108

81,275

N/AN/A
Client capital contributions during the year

641,658

676,123

N/AN/A
Client capital distributions during the year

(511,512)

(629,735)

N/AN/A
Funds escheated to the Crown

(1,247)

(26,113)

N/AN/A
Change in net assets attributable to beneficiaries

249,007

101,550

N/AN/A
Adjustments for non-cash client capital contributions

(177,322)

(165,132)

N/AN/A
Adjustments for non-cash client capital distributions

49,303

61,805

N/AN/A
Net unrealized (gain)/loss on investments and foreign currency at fair value

(24,038)

(30,043)

3,302

(10,439)

Investment income reinvested

(41,784)

(13,035)

(18,376)

(6,992)

Changes in working capital items: accounts receivable

638

(2,203)

487

(714)

Changes in working capital items: accounts payable and accrued liabilities

(69)

11,581

829

1,313

Net cash (used in) from operating activities

55,735

(35,477)

3,824

(289)

Cash flows from investing activitiesEstates and trusts – 2025Estates and trusts – 2024Administration fund – 2025Administration fund – 2024
Acquisition of investments

(2,205,138)

(2,171,225)

(3,950)

423

Proceeds from sale of investments

2,065,973

2,036,156

N/AN/A
Proceeds from sale of real estate

81,120

84,088

N/AN/A
Net increase in other assets

(13,651)

(832)

N/A

N/A

Net cash (used in) from investing activities

(71,696)

(51,813)

(3,950)

423

Increase (decrease) in cash and cash equivalents

(87,290)

(126)

134N/A
Cash and cash equivalent, beginning of the year

126,792

474

340N/A
Cash and cash equivalent, end of the year

39,502

348

474N/A