7. Other non-current financial assets – Other investments
These are available-for-sale and held-to-maturity financial assets. Details are as follows:
| € million |
3/31/2015 |
12/31/2014 |
Change |
|
|---|---|---|---|---|
| Investments measured at fair value | ||||
| - | The Black Ant Value Fund | 392.1 | 392.0 | 0.1 |
| - | Perella Weinberg Funds |
13.4 | 13.0 | 0.4 |
| - | Rho Immobiliare Fund |
11.3 | 11.3 | 0.0 |
| - | Other funds |
91.6 | 65.8 | 25.8 |
| 508.4 | 482.1 | 26.3 | ||
| Investments measured at amortized cost | ||||
| - | Held-to-maturity bonds |
76.3 | 76.3 | 0.0 |
| Total | 584.7 | 558.4 | 26.3 | |
The net increase in The Black Ant Value Fund of €0.1 million is due to the positive fair value adjustment of €19.7 million and offset by the redemption of 135,375 shares, according to the agreements signed and taking into account the positive performance recorded during 2014, for a total equivalent amount of €19.6 million. The redemption resulted in a net gain of €6.1 million on the realization of a part of the fair value reserve. At March 31, 2015 the positive fair value adjustment recognized in equity amounts to €134.8 million.
The net increase in the Perella Weinberg Funds of €0.4 million is due principally to the positive fair value adjustment of €1.2 million and investments made during the period of €0.3 million, partially offset by the Noco B and Perella Weinberg Real Estate I Funds, respectively, of $0.4 million (€0.3 million) and €0.8 million. The net loss realized is €0.3 million. At March 31, 2015 a positive fair value adjustment was recorded in equity amounting to €1 million.
The remaining investment commitments in NoCo B L.P. and in the Perella Weinberg Real Estate I Funds total, respectively, $7.6 million (€7.1 million) and €20.1 million.
