This is the value, as at the relevant date, for all physical assets together with the equivalent asset position of the derivative instruments. The equivalent asset position of a derivative is the dollar amount of the underlying physical asset that needs to be held to generate the same return as holding the derivative. 

For directly held investments: report on a non look through basis.
For indirectly held investments: report on a look though basis.
When reporting on a look through basis, information about the underlying investments in an investment vehicle must be reported. Investments in investment vehicles must be allocated to each combination of asset class type, asset domicile type and asset listing type represented in the underlying investments.
Look-through reporting is not required for hedge fund investments, the information reported need only cover the investments held by the RSE. Hedge fund investments must be reported in the asset class other.