Asset Mix – Exposure
To arrive at the Plan's ultimate exposure by asset class, the asset mix includes derivatives exposure and other items, such as amounts payable under administered funds. Net investment asset exposure, based on the holdings as set out in the Consolidated Financial Statements and, after all allocations, is as set out in the table below. The inclusion of derivatives exposure is reflected in each asset class, with an offset to economic leverage. Economic leverage is the difference between the exposure to an asset class and the fair value of the derivative in the asset class. Net investment asset exposure at the end of 2017 was $96.4 billion ($86.4 billion, 2016) and includes administered funds of $1.4 billion ($1.2 billion, 2016) and non-investment related items of $(0.2) billion ($(0.2) billion, 2016).