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Other investments | 12 Months Ended
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Dec. 31, 2023
Other investments | 16 Other investments
end of |  | 2023 |  | 2022 |
Other investments (CHF million)
Equity method investments |  | 1,856 |  | 1,618 |
Equity securities (without a readily determinable fair value) 1 |  | 1,691 |  | 3,212 |
of which at net asset value |  | 101 |  | 72 |
of which at measurement alternative |  | 49 |  | 366 |
of which at fair value |  | 1,503 |  | 2,727 |
of which at cost less impairment |  | 38 |  | 47 |
Real estate held-for-investment 2 |  | 31 |  | 46 |
Life finance instruments 3 |  | 439 |  | 587 |
Total other investments |  | 4,017 |  | 5,463 |
1 Includes private equity, hedge funds and restricted stock investments as well as certain investments in non-marketable mutual funds for which the Bank has neither significant influence nor control over the investee.
2 As of the end of 2023 and 2022, real estate held-for-investment included foreclosed or repossessed real estate of CHF 6 million and CHF 20 million, respectively, of which CHF 6 million and CHF 20 million, respectively, were related to residential real estate.
3 Includes single premium immediate annuity contracts.
Accumulated depreciation related to real estate held-for-investment amounted to CHF 25 million, CHF 24 million and CHF 28 million for 2023, 2022 and 2021, respectively. No impairments were recorded on real estate held-for-investment in 2023, 2022 and 2021, respectively. Equity securities at measurement alternative
in / end of |  | 2023 |  | Cumulative |  | 2022 |
Impairments and adjustments (CHF million)
Impairments and downward adjustments |  | (14) |  | (66) |  | (12) |
Upward adjustments |  | 0 |  | 147 |  | 9 |
> Refer to “Note 34 – Financial instruments” for further information on such investments.

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- Definition The entire disclosure for investments and other noncurrent assets. + References No definition available. + Details
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