10 Financial investments
in CHF thousands | 30.06.2025 | 31.12.2024 | +/- % |
Financial investments measured at amortised cost | |||
Debt instruments | |||
listed | 1’257’600 | 1’324’216 | – 5.0 |
Total debt instruments | 1’257’600 | 1’324’216 | – 5.0 |
Total financial investments measured at amortised cost | 1’257’600 | 1’324’216 | – 5.0 |
Financial investments measured at fair value through profit and loss | |||
Debt instruments | |||
listed | 0 | 2’744 | – 100.0 |
unlisted | 27’489 | 26’892 | 2.2 |
Total debt instruments | 27’489 | 29’636 | – 7.2 |
Equity instruments | |||
listed | 11 | 9 | 14.6 |
unlisted | 293 | 127 | 130.6 |
Total equity instruments | 304 | 137 | 122.7 |
Total financial investments measured at fair value through profit and loss | 27’793 | 29’772 | – 6.6 |
Financial investments, measured at fair value through other comprehensive income | |||
Debt instruments | |||
listed | 1’184’695 | 1’404’023 | – 15.6 |
Total debt instruments | 1’184’695 | 1’404’023 | – 15.6 |
Equity instruments | |||
listed | 212’809 | 208’095 | 2.3 |
unlisted | 36’904 | 36’420 | 1.3 |
Total equity instruments | 249’714 | 244’515 | 2.1 |
Total financial investments, measured at fair value through other comprehensive income | 1’434’409 | 1’648’539 | – 13.0 |
Total financial investments | 2’719’801 | 3’002’527 | – 9.4 |
The equity instruments recognised at fair value through other comprehensive income consist of strategic investments of an infrastructure nature, which are unlisted (see note 13), as well as instruments 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.
Due to adjustments in the weighting of individual securities within the SMI and from a sustainability perspective, the LLB also adjusted its own portfolio. Various disposals resulted in a profit of CHF 4.8 million (previous year: profit of CHF 1.3 million). The fair value of the transactions amounted to CHF 10.2 million (previous year: CHF 7.1 million). The profit was recognised directly in retained earnings.