Assets under management
| Long-term business 30 June 2004 £m |
General business and other 30 June 2004 £m |
Group 30 June 2004 £m |
Group 31 December 2003 £m |
|
|---|---|---|---|---|
| Financial investments | ||||
| Shares, other variable yield securities and units in unit trusts | 25,903 | 2,348 | 28,251 | 28,294 |
| Strategic investments | 1,479 | 451 | 1,930 | 2,026 |
| Debt and fixed income securities at market value | 36,233 | 9,734 | 45,967 | 47,048 |
| Debt and fixed income securities at amortised cost | 34,962 | - | 34,962 | 34,709 |
| Loans secured by mortgages and other loans, net of non-recourse funding | 10,311 | 2,041 | 12,352 | 12,283 |
| Deposits | 3,158 | 744 | 3,902 | 2,943 |
| Other investments | 970 | 57 | 1,027 | 1,842 |
| Total financial investments | 113,016 | 15,375 | 128,391 | 129,145 |
| Investments in joint ventures | 1,086 | - | 1,086 | 869 |
| Investments in associated undertakings and participating interests | 653 | 149 | 802 | 1,043 |
| Land and buildings | 8,726 | 607 | 9,333 | 9,106 |
| Total investments | 123,481 | 16,131 | 139,612 | 140,163 |
| Assets held to cover linked liabilities | 42,921 | - | 42,921 | 40,665 |
| Other assets included in the balance sheet | 14,046 | 13,581 | 27,627 | 27,852 |
| Total MSSB assets included in the balance sheet | 180,448 | 29,712 | 210,160 | 208,680 |
| Additional value of in-force long-term business | 4,851 | - | 4,851 | 4,744 |
| Total EV assets included in the balance sheet | 185,299 | 29,712 | 215,011 | 213,424 |
| Third party funds under management: | ||||
| Securitised mortgages (gross of non-recourse funding) | 3,152 | 3,143 | ||
| Unit trusts, Oeics, Peps and Isas | 4,642 | 4,460 | ||
| Segregated funds | 19,607 | 19,355 | ||
| Total assets under management | 242,412 | 240,382 |
Strategic investments include the market value of the Group’s shareholding in Société Générale, Münchener Rückversicherungs-Gesellschaft, RBSG and UniCredito Italiano.
General insurance and other investments mix
| United Kingdom £m |
Continental Europe £m |
International £m |
Total 30 June 2004 £m |
|
|---|---|---|---|---|
| Shares, other variable yield securities and units in unit trusts | ||||
| and strategic investments | 1,494 | 990 | 315 | 2,799 |
| Debt and fixed income securities at market value | 4,641 | 3,163 | 1,930 | 9,734 |
| Land and buildings | 264 | 310 | 33 | 607 |
| Other | 2,003 | 826 | 162 | 2,991 |
| Total investments | 8,402 | 5,289 | 2,440 | 16,131 |
