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GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2019(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)12. Investment securities2019 2019 2018 2018Market Cost Market Costvalue value$ $ $ $Investments at fair valuethrough profit and lossQuoted shares 3,587 658 3,827 658Investments at amortised costTreasury note 19,628 19,628 14,687 14,68723,215 20,286 18,514 15,345The fair value of quoted ordinary shares is determined by reference to published price quotations in an active trading market. During the year, the proceeds from the matured Treasury Note were reinvested into a similar instrument at a yield of 2.00% for one year. The Treasury Note is issued by the Government of the Republic of Trinidad and Tobago (GORTT).2019 201813. Cash and short%u2013term deposits $ $Cash at bank and on hand 25,702 29,672Money Market Fund 13 13Fixed deposits 18,250 17,89243,965 47,577Money market fundThis represents a holding in the Unit Trust Corporation TT dollar Income Fund. The Fund earns interest at a rate of <1.4% per annum at year-end (2018: <1%).GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2019 99