Tapiola Corporate Life's investment year 2005
Equity Investments
Investments in Venture Capital Funds
Fixed-income Investments
Real Estate Investments
Customer Loans
The return on Tapiola Corporate Life’s investment portfolio at current value in 2005 was 8.7% (7.1%). With the exception of fixed-income investments, all investment instruments yielded a higher return than in the corresponding period last year. Investment assets at current value stood at EUR 768.4 million (EUR 705.1 million). Net investment income at current value was EUR 62.1 million (EUR 47.5 million). Equity allocation was increased during 2005 in the investment distribution. The amount of interest rate risk was reduced by hedging and lower allocation.
| Net income from investment operations at current values, 01/01/2005-31/12/2005 |
Net investment income 1-12/2005 EUR million |
Capital employed 1-12/2005 EUR million |
Return (%) on capital employed |
| Loan receivables |
0.3 |
6.1 |
5.1 |
Bond
*of which fixed-income funds |
20.5
0.6 |
447.4
13.7 |
4.6
4.3 |
Other money market instruments and deposits
*of which fixed-income funds |
0.6
0.0 |
26.3
1.5 |
2.2
2.3 |
| Shares and participations |
34.6 |
125.5 |
27.5 |
Real-estate investments
*of which mutual funds and collective investment undertakings |
7.3
0.1 |
107.5
0.7 |
6.8
16.0 |
| Investments, total |
63.2 |
712.8 |
8.9 |
| Income, costs and expenses unallocated to investment classes |
-1.1 |
|
|
| Net income from investment operations at current values |
62.1 |
712.8 |
8.7 |
Five year review
Distribution of investments
(at current values) |
31 December 2005
EUR million |
31 December 2005
% |
31 December 2004
EUR million |
31 December 2004
% |
| Loan receivables, other receivables |
6.3 |
0.8 |
0.0 |
0.0 |
Bonds
*includes fixed-income funds |
466.9
14.7 |
60.8
1.9 |
430.4
13.6 |
61.0
1.9 |
Other financial market instruments and deposits
*includes fixed-income funds |
31.7
0.0 |
4.1
0.0 |
14.1
3.2 |
2.0
0.5 |
| Shares and participations |
153.5 |
20.0 |
130.8 |
18.6 |
Real-estate investments
*includes mutual funds and collective investment undertakings |
110.1
3.1 |
14.3
0.4 |
129.7
|
18.4
|
| Investments, total |
768.4 |
100.0 |
705.1 |
100.0 |
Five year review