Fennia Annual Report 2014

Investment portfolio at current values

Investment portfolio at current values

 

 

Basic distribution

Risk distribution

 

2014

2013

2012

 

2014

2013

2012

 

EUR million

%

EUR million

%

EUR million

%

EUR million

%

EUR million

%

%

Fixed-income investments, total

802.1

53.6

705.0

51.0

743.7

55.1

802.1

53.6

704.7

51.0

55.1

Loans 1)

36.3

2.4

41.7

3.0

36.4

2.7

36.3

2.4

41.7

3.0

2.7

Bonds

656.3

43.9

519.7

37.6

565.6

41.9

656.3

43.9

519.4

37.6

41.9

Other money market instruments and deposits 1) 2)

109.5

7.3

143.7

10.4

141.6

10.5

109.5

7.3

143.7

10.4

10.5

Equity investments, total

327.6

21.9

325.0

23.5

283.2

21.0

325.1

21.7

320.4

23.2

21.0

Listed equities 3)

205.5

13.7

210.3

15.2

194.8

14.4

203.0

13.6

205.7

14.9

14.4

Private equity 4)

36.0

2.4

34.8

2.5

39.2

2.9

36.0

2.4

34.8

2.5

2.9

Unlisted equities 5)

86.1

5.8

79.8

5.8

49.2

3.6

86.1

5.8

79.8

5.8

3.6

Real estate investments, total

353.9

23.7

340.8

24.6

318.1

23.6

353.9

23.7

340.8

24.6

23.6

Direct real estate

300.5

20.1

294.9

21.3

292.2

21.7

300.5

20.1

294.9

21.3

21.7

Real estate funds and UCITS

53.4

3.6

45.9

3.3

25.9

1.9

53.4

3.6

45.9

3.3

1.9

Other investments

12.4

0.8

12.0

0.9

4.4

0.3

12.4

0.8

12.0

0.9

0.3

Hedge funds 6)

11.1

0.7

10.6

0.8

4.2

0.3

11.1

0.7

10.6

0.8

0.3

Other investments 7)

1.3

0.1

1.4

0.1

0.2

0.0

1.3

0.1

1.4

0.1

0.0

Total investments

1,496.0

100.0

1,382.8

100.0

1,349.4

100.0

1,493.4

99.8

1,377.9

99.6

100.0

Effect of derivatives 8)

           

2.5

0.2

4.9

0.4

 

Total investments at fair value

1,496.0

100.0

1,382.8

100.0

1,349.4

100.0

1,496.0

100.0

1,382.8

100.0

100.0

                       

Modified duration of the bond portfolio

4.2

 

4.2

               
                       

1) Includes accrued interests

2) Including cash at bank and in hand and settlement receivables and settlement liabilities

3) Including mixed funds, if these cannot be allocated elsewhere

4) Including private equity funds, mezzanine funds, and infrastructure investments

5) Including unlisted real-estate investment companies

6) Including all types of hedge fund shares, regardless of the fund’s strategy

7) Including items that cannot be allocated to other investment types

8) Includes the effect of derivatives on the difference between risk-adjusted breakdown and basic breakdown. The effect of derivatives can be +/-. After the difference is adjusted the final sum of the risk distribution is the same as the basic distribution.