181 ANNUAL REPORT 2010 Without  discretionary  participation  features With  discretionary  participation  features Total At January 1, 2009 35,696 535 36,231 Portfolio transfers and acquisitions 9 – 9 Deposits 5,173 – 5,173  Withdrawals  (13,488) –  (13,488) Investment contracts liabilities released – 40 40 Interest credited 863 – 863  Fund charges released  (10) –  (10) Movements related to fair value hedges  (362) –  (362) Net exchange differences  (814) 39  (775) Other 251 – 251  AT DECEMBER 31, 2009 27,318 614 27,932 2010 2009 Fair value of investment contracts without discretionary  participation features 22,989 27,297 Investment contracts consist of the following: 2010 2009 Institutional guaranteed products 10,385  14,822 Fixed annuities 5,698  5,805 Savings accounts 5,503  5,660 Investment contracts with discretionary participation features 679  614 Other  972 1,031 AT DECEMBER 31 23,237 27,932 SHARPENING OUR FOCUS