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Annual report 2011
58
3.2.3 Significance of financial instruments for financial position and performance
Activities
In terms of EIF’s PE own-risk portfolio activities, 2011 shows an increase in disbursements and capital repayments, and
decrease in commitments and dividends:
EIF yearly cash flow activity (EUR m)
Reflows
Commitments
Disbursements Capital Repayments
Dividends
31.12.2011
46.0
41.2
28.0
3.8
31.12.2010
60.1
38.9
14.8
10.9
Diversification
As of 31 December 2011, EIF has committed EUR 536.5m in 206 PE funds with the biggest exposure amounting
to EUR 13.3m (2.5 % of total commitments). These PE funds have invested in more than 2 700 underlying portfolio
companies.
The proportion of funds considered as impaired has decreased from 25.2 % to 23.8 % of the EIF portfolio based on
committed funds.
Commitments
Funds
/ (EUR m)
31.12.2011
31.12.2010
Variation
Not impaired
408.7
366.9
11.4%
Impaired
127.8
123.6
3.4%
Total
536.5
490.5
9.4%
Impairment (%)
23.8%
25.2%