UBI Banca Group

3.3. Financial assets at fair value: annual changes
D ebt ins truments
Equity instruments
Units in O.I.C.R.
(collective
investment
instruments)
Financing
A. Opening balances - - 147,286 - 147,286
B. Increases - - 656,146 - 656,146
B.1 Purchases - - 654,370 - 654,370
B.2 Positive changes in fair value - - 752 - 752
B.3 Other changes - - 1,024 - 1,024
C. Decreases - - (677,258) - (677,258)
C.1 Sales - - (630,477) - (630,477)
C.2 Redemptions - - (4,790) - (4,790)
C.3 Negative changes in fair value - - (17,990) - (17,990)
C.4 Other changes - - (24,001) - (24,001)
D. Final balances - - 126,174 - 126,174
Total
The majority of the amounts for purchases and sales relate to transactions performed during
the year for investments and disposals of units in the funds of UBI Pramerica SGR.
SECTION 4 Available-for-sale financial assets – Item 40
4.1 Available-for-sale financial assets: composition by type
Items/Amounts 31/12/2011 Total 31/12/2010
Total
L 1 L 2 L 3 L 1 L 2 L 3
1. Debt instruments 6,621,026 920,410 10,296 7,551,732 8,509,464 1,115,988 10,255 9,635,707
1.1 Structured instruments 73,426 - 3,773 77,199 177,191 - - 177,191
1.2 Other debt instruments 6,547,600 920,410 6,523 7,474,533 8,332,273 1,115,988 10,255 9,458,516
2. Equity instruments 251,226 46,963 88,444 386,633 346,586 73,614 70,357 490,557
2.1 At fair value 251,226 46,937 54,467 352,630 346,586 73,588 46,008 466,182
2.2 At cost - 26 33,977 34,003 - 26 24,349 24,375
3. Units in O.I.C.R.
(collective investment instruments) 39,064 62,280 - 101,344 18,313 106,596 - 124,909
4. Financing - - - - - - 1,446 1,446
Total 6,911,316 1,029,653 98,740 8,039,709 8,874,363 1,296,198 82,058 10,252,619
Equity instruments are recognised within “Level 3” if, for example, in the absence of a price
quoted on an active market, their fair value is estimated by assuming the value at cost or the
quota of the equity corresponding to the interest held.
In consideration of the particular nature of the shareholding, the equity investment held by
Banca Carime Spa in the Bank of Italy of approximately €422 thousand is recognised at cost.
Amounts recognised at cost also include all the equity investments held by the Group for the
purposes of a more solid presence on its local markets and for the development of commercial
agreements.
The units in O.I.C.R.s – Level 1 relate almost exclusively to investments in the Polis Portafoglio
Immobiliare fund amounting to €12.4 million, to the Trackers EURSTOXX50 ETF amounting
to €17.1 million and to the Azimut Dividend Premium Class A fund amounting to €9.5 million.
The units classified within level two relate to investments in private equity funds.
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