9. Non-current other financial assets – Other investments

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

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(a) Reclassified to current financial assets since the bonds become due in 2017.

The net decrease in The Black Ant Value Fund is due to the redemption of 128,606 shares, in accordance with signed agreements and taking into account the positive performance recorded during 2015, for a total equivalent amount of €18.7 million and the negative fair value adjustment of €5.4 million. The redemption resulted in a net gain of €5.8 million from the realization of a part of the fair value reserve. At June 30, 2016 a positive fair value adjustment was recognized in equity of €105.2 million.

The decrease in other funds is largely the result of the sale of the above fund to PartnerRe in April 2016, for approximately $195 million (€171.7 million).

Commercial Register No.64236277 Legal notes | Credits