10. Other investments

These are financial assets available-for-sale measured at fair value. Details are as follows:

 € million  12/31/2016  12/31/2015  Change
The Black Ant Value Fund  355.2  373.6  (18.4)
Other funds  10.6  185.1  (174.5)
Total  365.8  558.7  (192.9)

The net decrease in The Black Ant Value Fund is due to the redemption of 128,606 shares, in accordance with signed agreements and considering the positive performance recorded during 2015, for a total equivalent amount of €18.7 million, partially offset by the negative fair value adjustment of €0.3 million. The redemption resulted in a net gain of €5.8 million from the realization of a portion of the fair value reserve. At December 31, 2016 a positive fair value adjustment of €110.8 million was recognized in equity.

The decrease in other funds is largely the result of the sale of the funds to PartnerRe in April 2016 for approximately $195 million (€171.7 million, of which €171 million received by EXOR S.A.).

 

Commercial Register No.64236277 Note legali | Credits