10. Non-current other financial assets – Other investments

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

€ million 12.31.2015 12.31.2014 Change
Investments measured at fair value      
- The Black Ant Value Fund 373.6 392.0  (18.4)
- Other funds 185.1 90.1 95.0
  558.7 482.1  76.6
Investments measured at amortized cost      
- Bonds held to maturity 76.2 76.3  (0.1)
Total 634.9 558.4 76.5

The net decrease in The Black Ant Value Fund of €18.4 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, partially offset by the positive fair value adjustment of €1.2 million. The redemption resulted in a net gain of €6.1 million from the realization of a part of the fair value reserve. At December 31, 2015 the fair value adjustment recognized in equity amounts to a positive €116.4 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