18. Current financial investments

Notes to the consolidated financial statements
CSR report

On 31 December 2020, our current financial investments amounted to €3,026.3 million compared to €3,919.2 million on 31 December 2019. On 31 December 2019 these current financial investments included a short-term bond fund and money market funds. On 31 December 2020 these current financial investments included treasury bills (€1,454.4 million) and money market funds (€1,571.9 million). Our portfolio of treasury bills contains only AAA rated paper, issued by Germany and The Netherlands. Our money market funds portfolio consists of AAA short-term money market funds with a diversified and highly rated underlying portfolio managed by established fund management companies with a proven track record leading to an insignificant risk of changes in value. The funds have an important daily liquidity and can be easily converted to cash.

On 31 December 2020, our current financial investments included $524.6 million held in USD, which could generate a foreign currency exchange gain or loss in our financial results in accordance with the fluctuation of the EUR/USD exchange rate as our functional currency is EUR.

We refer to note 32 for more information on these current financial investments.