10. Other non-current financial assets – Other investments

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

€ million
Investments measured at fair value      
- The Black Ant Value Fund 364.9 392.0 (27.1)
- Other funds
165.9 90.1 75.8
Investments measured at amortized cost      
- Bonds held to maturity
76.3 76.3 0.0
Total 607.1 558.4 48.7

The net decrease in The Black Ant Value Fund of €27.1 million is due to the redemption of 135,375 shares, in accordance with the signed agreements and taking into account the positive performance recorded during 2014, for a total equivalent amount of €19.6 million, and also the negative fair value adjustment of €7.5 million. The redemption resulted in a net gain of €6.1 million from the realization of a part of the fair value reserve. At September 30, 2015 the fair value adjustment recognized in equity amounts to a positive €107.7 million.

The increase in Other funds is due to the subscription of funds that invest in specific geographical areas and in specific sectors.


Commercial Register No.64236277 Legal notes | Credits