8. Other non-current financial assets – Other investments

These are financial assets available-for-sale and held to maturity. Details are as follows:

€ million 6/30/2014 12/31/2013 Change
Investments measured at fair value      
- The Black Ant Value Fund 384.3 381.6 2.7
- Perella Weinberg Funds 36.9 46.5 (9.6)
- Rho Immobiliare Fund 11.7 11.7 0.0
- Other funds 58.2 49.6 8.6
  491.1 489.4 1.7
Investments measured at amortized cost
     
- Bonds held to maturity 83.4 83.5 (0.1)
Total 574.5 572.9 1.6

The net increase in The Black Ant Value Fund of €2.7 million is due to the positive fair value adjustment of €21.8 million and is partially compensated by the redemption of 142,500 shares, according to the agreements signed and taking into account the positive performance recorded during 2013, for a total equivalent amount of €19.1 million. The redemption resulted in a net gain of €4.8 million relating to the realization of part of the fair value reserve.

At June 30, 2014 the positive adjustment to fair value recognized in equity amounts to €113.5 million.

The net decrease in the Perella Weinberg Funds,equal to €9.6 million, is due principally to the redemption of the NoCo B and Perella Weinberg Real Estate I funds, respectively, for $4.9 million (€3.6 million) and €10.9 million, partially compensated by purchases during the period of €0.5 million and the positive adjustment to fair value of €4.4 million. The net gain realized comes to €7.6 million. At June 30, 2014 the positive adjustment to fair value recognized in equity amounts to €3.3 million.

At June 30, 2014, the remaining investment commitments in NoCo B L.P. and in the Perella Weinberg Real Estate I Fund total, respectively, $7.9 million (€5.8 million) and €13.8 million.

 

Commercial Register No.64236277 Legal notes | Credits