12 Financial Assets Available for Sale

In CHF millionNotes  31.12.0831.12.0731.12.0831.12.0731.12.0831.12.07
  Cost/
amortised
cost
Cost/
amortised
cost
Net
unrealised
gains/losses
Net
unrealised
gains/losses
Fair value
(Carrying
amount)
Fair value
(Carrying
amount)
Debt securities  39 09157 326–917–2 57638 17454 750
Money market instruments  99219921
Equity securities  7206 123–13937076 216
Investment fund units – debt  122157–43118160
Investment fund units – equity  6991 418–10216891 439
Investment fund units – mixed  286234616292250
Private equity  20793–420203113
Hedge funds  2 7485 3101303282 8785 638
Other  310031
Total financial assets available for sale27  43 97570 683–812–2 09543 16368 588


Based on detailed assessments with regard to indications of impairment, impairment losses from continuing operations totalling CHF 3108 million were recognised in the period under review (2007: CHF 744 million). The impairment losses in 2008 related to equity instruments were CHF 3000 million and debt instruments CHF 108 million (2007: debt instruments CHF 630 million and equity instruments CHF 114 million).

No held-to-maturity securities were transferred to the available-for-sale category and no available-for-sale securities were transferred to the held-to-maturity category in the period under review.

The effect of the reclassification of financial assets available for sale to loans as at 1 July 2008 is shown in note 37.

 
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