ALLIANZ GROUP 82 billion euros, those from fixed-income securities fell to 7.5 billion euros. A list of companies in which we hold at least 5 percent of the capital or in which our investment exceeds 100 million euros can be found in the Notes to the Consolidated Financial Statements on pages 179 and 180. The list also provides infor- mation on the percentage of our interest in each company and the market capitalization of our holdings. At the end of 2003, the market value of these holdings totaled 18.4 billion euros.  Real estate used by third parties was valued at 13.8 billion eu- ros in fiscal 2003, and  funds held by others under reinsurance contracts assumed amounted to 2.0 billion euros. The  balance of trading assets and trading liabilities amounted to 61.3 billion euros at December 31, 2003. Trading assets (146.1 billion euros) consist of fixed-income securities (76 percent), dividend-earning equity securities (11 percent) and derivatives (13 percent). Trading liabilities (– 84.8 billion euros) essentially include derivatives (24 percent) and obligations to deliver secu- rities (72 percent). These items are primarily attributable to the banking business. Other investments mainly include  loans issued by Group enter- prises (21.3 billion euros) and  bank deposits (10.7 billion  euros). Investment structure by type of investment and segment as of December 31, 2003 Current values in  ¤ bn Property/Casualty Life/Health Banking Business Asset Management Group Real estate 4.7 8.0 1.1 – 13.8 Dividend-earning equity securities 19.0 26.2 10.1 0.1 55.4 Fixed-income securities 55.0 184.6 15.2 0.5 255.3 Other investments 10.8 2.1 – – 13.0 Subtotal 89.5 220.9 26.5 0.6 337.5 Trading portfolio 1.1 0.1 59.9 0.2 61.3 Total investments 90.6 221.0 86.4 0.8 398.8