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Annual report 2011
76
4 Detailed disclosures relating to asset headings
4.1 Cash and cash equivalents
The effective interest rate on short-term bank deposits is 0.94 % (2010: 0.8 %). These deposits have an average remain-
ing maturity of 13 days (2010: 33 days).
Cash and cash equivalents is as follows:
EUR
31.12.2011
31.12.2010
Current accounts
55 612 129
31 183 332
Money market instruments
105 048 677
42 419 922
160 660 806
73 603 254
4.2 Debt securities and other fixed income securities
The Fund’s portfolio includes long-term debt instruments i.e. bonds, notes and other obligations.
EUR
31.12.2011
31.12.2010
Available-for-Sale portfolio
762 816 370
847 111 106
Accrued interests
15 552 228
16 467 775
778 368 598
863 578 881
Debt securities and other fixed income securities held by the Fund are all quoted on an active market and are classified
as level 1 except one security classified as level 2 in 2011 (note 3.6).
The Fund participates as lender in a Securities Lending and Borrowing Programme with three counterparties; the fair
value of securities lent at year-end amounts to EUR 167 493 963 (2010: EUR 94 711 487).
Movement in debt securities and other fixed income securities:
EUR
2011
2010
Fair value at 1 January
863 578 881
832 313 566
Additions
146 067 911
360 000 091
Disposals/ matured
(189 336 273)
(281 972 280)
Effective interest rate adjustment
(974 622)
3 554 286
Change in Fair value reserve
(40 967 299)
(50 316 782)
Fair value at 31 December
778 368 598
863 578 881