46. Investment contracts

Investment contracts – carrying amount31 December 201431 December 2013
Investment contracts with guaranteed and fixed terms and conditions 520,840 1,250,492
- measured at amortised cost 520,840 1,250,492
Unit-linked investment contracts 587,267 870,545
Total investment contracts – carrying amount 1,108,107 2,121,037

Upon initial recognition, unit-linked investment contracts were classified as financial liabilities measured at fair value through profit or loss.

Total expected cash flows from investment contracts31 December 201431 December 2013
Up to 1 year 989,481 1,890,179
Over 1 year and up to 5 years 124,908 243,996
Total 1,114,389 2,134,175

As at 31 December 2014, the fair value of liabilities under investment contracts with guaranteed and fixed terms and conditions amounted PLN 520,383 thousand (as at 31 December 2013: PLN 1,253,256 thousand).

Financial assets related to investment contracts:

  • with guaranteed and fixed terms and conditions – bank deposits presented as “Loans and receivables – term deposits with credit institutions” described in point 33.4 or treasury bonds classified mainly as held to maturity;
  • unit-linked – include mainly units in investment funds, recognized as “Financial instruments measured at fair value through profit or loss – held for trading – equity instruments – not listed on a regulated market”, derivative instruments recognized as “Financial instruments measured at fair value