Notes to the consolidated financial statements of Aegon N.V.  Note 3 170 Significant unobservable assumptions  1  Other in the table above (column Valuation technique) includes investments for which the fair value is uncorroborated and no broker quote is received.  2  Not applicable (n.a.) has been included when no significant unobservable assumption has been identified and used. 3  Investments for account of policyholders are excluded from the table above and from the disclosure regarding reasonably possible alternative assumptions.  Policyholder assets, and their returns, belong to policyholders and do not impact Aegon’s net income or equity. The effect on total assets is offset by the effect on  total liabilities. Derivatives exclude derivatives for account of policyholders amounting to EUR 76 million. Annual Report 2013 December 31,  2013 Valuation  technique  1) Significant unobservable input  2) Range (weighted  average) Assets carried at fair value Available­for­sale investments Shares 203 Broker quote n.a. n.a. 119 Other n.a. n.a. 322 Debt securities RMBS 276 Broker quote n.a. n.a. 61 Other n.a. n.a. CMBS 21 Broker quote n.a. n.a. 7 Other n.a. n.a. ABS 202 Discounted cash flow Discount rate 3% - 8% (6.62%) 2,030 Broker quote n.a. n.a. 59 Other n.a. n.a. Corporate bonds 212 Discounted cash flow Credit spread 0.4% - 2.6% (2.33%) 259 Broker quote n.a. n.a. 16 Other n.a. n.a. Sovereign debt 19 Broker quote n.a. n.a. 3,162 Other investments at fair value Tax credit investments 696 Discounted cash flow Discount rate 8.2% Other 126 Net asset value n.a. n.a. 4 Other n.a. n.a. 826 At December 31 4,310 Fair value through profit or loss Debt securities 17 Other n.a. n.a. 17 Other investments at fair value Real estate funds 591 Net asset value n.a. n.a. Private equity funds 564 Net asset value n.a. n.a. Hedge funds 62 Net asset value n.a. n.a. 1,217 Derivatives  3) Longevity swap 128 Discounted cash flow Mortality n.a. Other 124 Other n.a. n.a. Real estate Investments in real estate 595 Direct capitalization technique Capitalization rate 4.50% - 11.50% (7.3%) 809 Appraisal value n.a. n.a. 127 Other n.a. n.a. 3,017 Revalued amounts Real estate held for own use 129 Direct capitalization technique Capitalization rate 6.50% - 9.50% (7.98%) 104 Appraisal value n.a. n.a. 25 Other n.a. n.a. 258 At December 31 3,275 Total assets at fair value 7,585 Liabilities carried at fair value Derivatives Embedded derivatives in insurance contracts 1,213 Discounted cash flow Credit spread 0.50% Other 218 Other n.a. n.a. Total liabilities at fair value 1,431 The table below presents information about the significant unobservable inputs used for recurring fair value measurements for certain  Level III assets and liabilities.