Available for sale financial assets

(€ million) 31.12.2012 31.12.2011
Unquoted equities at cost 308 318
Equities at fair value 8,599 9,804
Quoted 7,513 8,757
Unquoted 1,086 1,047
Bonds 190,349 152,657
Quoted 185,173 147,576
Unquoted 5,176 5,081
Investment fund units 11,458 10,726
Other available for sale financial assets 1,831 2,144
Total 212,546 175,649

As already mentioned, the available for sale financial assets are measured at fair value and unrealized gains and losses on these assets are accounted for in shareholders’ equity in an appropriate reserve. The amortized cost of the available for sale financial assets amounted to € 200,301 million.

Net unrealised gains
(€ million)
31.12.2012
Fair value  Unrealized gains / losses
 
Amortized cost
Unquoted equities at cost   308 0 308
Equities at fair value   8,599 969 7,630
Bonds   190,349 10,721 179,628
Investment fund units   11,458 412 11,046
Other available for sale financial assets   1,831 143 1,688
Total   212,546 12,245 200,301

This category accounted for 56.8% of the total investments. In particular, the available for sale bonds represented 78.1% of total bonds and they are mainly fixed interest rate government bonds, with a rating higher than A-. The maturity of this category is shown in the table below.

(€ million)
Fair value
31/12/2012
Fair value
31/12/2011
Up to 1 year 12,534 9,552
Between 1 and 5 years 40,809 37,288
Between 5 and 10 years 63,266 57,455
More than 10 years 73,632 48,247
Perpetual 109 116
Total 190,349 152,657

This category accounted for 56.8% of the total investments. In particular, the available for sale bonds represented 78.1% of total bonds and they are mainly fixed interest rate government bonds, with a rating higher than A-. The maturity of this category is shown in the table below.

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AFS reserve breakdown66.53 KB