15 Financial investments
in CHF thousands | 31.12.2024 | 31.12.2023 | +/- % |
Financial investments measured at amortised cost | |||
Debt instruments | |||
listed | 1’324’216 | 813’599 | 62.8 |
unlisted | 0 | 20’507 | – 100.0 |
Total debt instruments | 1’324’216 | 834’106 | 58.8 |
Total financial investments measured at amortised cost | 1’324’216 | 834’106 | 58.8 |
Financial investments measured at fair value through profit and loss | |||
Debt instruments | |||
listed | 2’744 | 24’109 | – 88.6 |
unlisted | 26’892 | 32’326 | – 16.8 |
Total debt instruments | 29’636 | 56’435 | – 47.5 |
Equity instruments | |||
listed | 9 | 10 | – 8.6 |
unlisted | 127 | 263 | – 51.7 |
Total equity instruments | 137 | 274 | – 50.1 |
Total financial investments measured at fair value through profit and loss | 29’772 | 56’709 | – 47.5 |
Financial investments, measured at fair value through other comprehensive income | |||
Debt instruments | |||
listed | 1’404’023 | 1’663’993 | – 15.6 |
Total debt instruments | 1’404’023 | 1’663’993 | – 15.6 |
Equity instruments | |||
listed | 208’095 | 199’062 | 4.5 |
unlisted | 36’420 | 33’116 | 10.0 |
Total equity instruments | 244’515 | 232’179 | 5.3 |
Total financial investments, measured at fair value through other comprehensive income | 1’648’539 | 1’896’172 | – 13.1 |
Total financial investments | 3’002’527 | 2’786’987 | 7.7 |
The equity instruments recognised at fair value through other comprehensive income consist of strategic investments of an infrastructure nature, which are not exchange-listed (see note 33), as well as various equities of the Swiss Market Index (SMI). Short-term profit-taking is not the focus with equity instruments recognised at fair value through other comprehensive income, rather they represent a long-term position which pursues the collection of dividends and a long-term appreciation in value.
Within the scope of the reweighting of the SMI, LLB adjusted its portfolio of equities recognised in other comprehensive income. The disposals resulted in a profit of CHF 1.3 million (previous year: loss of CHF 4.2 million). The fair value of the transactions amounted to CHF 7.1 million (previous year: CHF 9.6 million). The profit was recognised directly in retained earnings.