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Allianz Annual Report 2013

9 – Investments Investments € mn as of 31 December 2013 2012 Available-for-sale investments 392,023 383,254 Held-to-maturity investments 4,140 4,321 Funds held by others under reinsurance contracts assumed 894 1,188 Investments in associates and joint ventures 3,175 3,219 Real estate held for investment 10,783 9,646 Total 411,015 401,628 Annual Report 2013    Allianz Group168 Notes to the consolidated balance sheets 8 – Financial assets carried at fair value through income Financial assets carried at fair value through income € mn as of 31 December 2013 2012 Financial assets held for trading Debt securities 360 328 Equity securities 139 153 Derivative financial instruments 2,013 1,865 Subtotal 2,512 2,346 Financial assets designated at fair value through income Debt securities  2,008 2,349 Equity securities 2,725 2,588 Subtotal 4,733 4,937 Total 7,245 7,283 Debt and equity securities included in financial assets held for trading Debtandequitysecuritiesincludedinfinancialassetsheldfortrading are primarily marketable and listed securities. As of 31 December 2013, the debt securities include € 30  mn (2012: € 29  mn) from public sector issuers and € 330 mn (2012: € 299 mn) from other issuers. 7 – Cash and cash equivalents Cash and cash equivalents € mn as of 31 December 2013 2012 Balances with banks payable on demand 6,574 7,295 Balances with central banks 449 2,277 Cash on hand 202 223 Treasury bills, discounted treasury notes, similar treasury securities, bills of exchange and checks  3,982 2,642 Total 11,207 12,437 As of 31 December 2013, compulsory deposits on accounts with national central banks under restrictions due to required reserves from the European Central Bank totaled € 169 mn (2012: € 305 mn).

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