| Net investment income at fair value |
| | | | | | | |
| Net | | | | | | |
| investment | | | | | | |
| income, | | Return on | Return on | Return on | Return on | Return on |
| market | Invested | invested | invested | invested | invested | invested |
| value | capital | capital | capital | capital | capital | capital |
| 2013 | 2013 | 2013 | 2012 | 2011 | 2010 | 2009 |
| Return €/% on invested capital | € million | € million | % | % | % | % | % |
| Fixed-income investments | 145.9 | 12,563.9 | 1.2 | 4.4 | 4.2 | 4.6 | 8.6 |
| Loan receivables | 74.4 | 2,272.0 | 3.3 | 3.2 | 3.9 | 1.5 | 3.4 |
| Public sector bonds | 76.4 | 9,053.5 | 0.8 | 5.5 | 5.0 | 6.3 | 11.2 |
| Other money-market instruments and deposits | -4.9 | 1,238.3 | -0.4 | 0.7 | 1.0 | 2.1 | 4.7 |
| Equity investments | 2,635.0 | 12,106.2 | 21.8 | 14.5 | -13.0 | 19.8 | 33.3 |
| Listed equities | 2,154.0 | 9,086.6 | 23.7 | 14.9 | -18.9 | 18.9 | 46.4 |
| Private equity | 270.6 | 2,231.7 | 12.1 | 13.0 | 9.6 | 23.9 | 2.3 |
| Unlisted equities | 210.4 | 787.9 | 26.7 | 15.5 | 20.7 | 24.5 | 4.5 |
| Real estate investments | 137.7 | 4,388.2 | 3.1 | 4.5 | 6.4 | 3.5 | 2.7 |
| Direct real investments | 78.9 | 3,879.7 | 2.0 | 4.6 | 5.9 | 3.3 | 5.3 |
| Real estate funds | 58.9 | 508.5 | 11.6 | 3.1 | 11.2 | 4.8 | -12.5 |
| Other investments | 265.7 | 5,927.0 | 4.5 | 6.0 | 4.5 | 18.0 | 25.3 |
| Hedge funds | 380.0 | 4,302.8 | 8.8 | 6.8 | 3.5 | 17.1 | 25.1 |
| Commodities | -11.6 | 3.3 | -357.1 | | | | 28.6 |
| Other investments | -102.7 | 1,620.9 | -6.3 | 6.0 | 10.9 | 17.1 | |
| Investments | 3,184.2 | 34,985.2 | 9.1 | 7.7 | -2.1 | 11.0 | 14.1 |
| Unallocated income, costs and operating expenses from investment activities | -24.1 | 15.8 | | | | | |
| Net investment income at fair value | 3,160.1 | 35,001.0 | 9.0 | 7.7 | -2.1 | 11.0 | 14.1 |