213 ANNUAL REPORT 2010 together with related liabilities on a fair value basis in  accordance with a documented policy of asset and liability  management. In accordance with Group’s accounting policies,  these assets have been designated as at fair value through  profit or loss. With the exception of the financial liabilities with discretionary  participating features that are not subject to the classification  and measurement requirements for financial instruments, all  investment contracts for account of policyholders that are  carried at fair value or at the fair value of the linked assets are  included in the table above. With the exception of derivatives designated as a hedging  instrument, all derivatives held for general account and held for  account of policyholders are included in the table above. Borrowings designated as at fair value through profit or loss  includes financial instruments that are managed on a fair value  basis together with related financial assets and financial  derivatives. Gains and losses recognized in the income statement on  financial assets and financial liabilities classified as at fair value  through profit or loss can be summarized as follows: DERIVATIVES INVESTMENT CONTRACTS FOR ACCOUNT OF  POLICYHOLDERS BORROWINGS  NOTE 48  COMMITMENTS AND CONTINGENCIES  INVESTMENTS CONTRACTED No loans and receivables were designated at fair value through  profit or loss. Changes in the fair value of investment contracts for account of  policyholders designated at fair value through profit and loss  were not attributable to changes in AEGON’s credit spread.  There are also no differences between the carrying amounts of  these financial liabilities and the contractual amounts payable  at maturity (net of surrender penalties). In the normal course of business, the Group has committed  itself through purchase and sale transactions of investments,  mostly to be executed in the course of 2011. The amounts  represent the future outflow and inflow, respectively, of cash  related to these investment transactions that are not reflected  in the consolidated balance sheet. 2010 2009 Trading Designated Trading Designated Net gains and losses 691 14,119 (89) 14,807 2010 2009 Purchase Sale Purchase Sale Real estate – (6) – (3) Mortgage loans 244 – 327 – Private loans 19 – 36 – Other 559 – 807 – Mortgage loans commitments represent undrawn mortgage  loan facility provided and outstanding proposals on mortgages.  Other commitments include future purchases of interests in  investment funds and limited partnerships. SHARPENING OUR FOCUS