9. Non-current other financial assets – Other investments

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

€ million 12/31/2013 12/31/2012  Change  
Investments measured at fair value  
- The Black Ant Value Fund 381.6 323.3 58.3  
- Perella Weinberg Funds 46.5 83.2 (36.7)  
- Rho Immobiliare Fund 11.7 11.8 (0.1)  
- Other funds 49.6 16.9 32.7  
  489.4 435.2 54.2  
Investments measured at amortized cost        
- Other bonds held to maturity 83.5 109.2 (25.7) (a)
Total 572.9 544.4 28.5  
(a) Reclassified to current financial assets.

As established in the agreements and taking into account the positive performance of The Black Ant Value Fund in 2012, during the first quarter of 2013, 150,000 shares were redeemed for an equivalent amount of €16.2 million, with a gain of €1.2 million. This decrease was more than compensated by the positive fair value alignment of €74.5 million at December 31, 2013 (with recognition in equity).

The net decrease in the Perella Weinberg Funds,equal to €36.7 million, was due principally to the redemptions of the NoCo B and Perella Weinberg Real Estate I funds, respectively for $51.4 million (€38.5 million) and €2.4 million, purchases during the period of €2.1 million and the positive adjustment to fair value of €2.1 million. The net gain realized is equal to €16.8 million.

At December 31, 2013 the positive adjustment to fair value recognized in equity amounts to €6.5 million. The remaining investment commitments in NoCo B L.P. and in the Perella Weinberg Real Estate I Fund total, respectively, $6.6 million (€4.8 million) and €8.4 million.

Commercial Register No.64236277 Note legali | Credits