Notes to the financial statements

17 Available-for-sale financial assets

	2008 £m	2007 £m
Non-current
Unlisted equity investments	1	1
Other financial asset	105	136
	106	137

Unlisted equity investments represent the Group’s interest in US unlisted companies. Due to a lack of an active market unlisted equity investments are held at cost less impairment. As at balance sheet date the Group has no intention to sell unlisted equity investments.

The other financial asset represents the Group’s beneficial interest in a commercial property investment pool. The fair value of other financial asset is based on discounted cash flows assuming a property rental growth rate of three per cent (2007: three per cent) and a weighted average cost of capital of ten per cent (2007: ten per cent). The majority of available-for-sale financial assets are denominated in sterling. There were no disposals or impairment provisions on available-for-sale financial assets in either the current or the previous year, (see note 29 for sensitivity analysis).