Investments (Tables)

12 Months Ended

Dec. 31, 2012

Investments

Schedule of interest bearing assets

 The Company's interest-bearing assets and other investments are included in the following categories in the Consolidated Statements of Financial Position (in millions):

As of December 31	2012		2011
Cash and cash equivalents	$	291	$	272
Short-term investments		346		785
Fiduciary assets (1)		4,029		4,190
Investments		165		239
	$	4,831	$	5,486

(1)

Fiduciary assets include funds held on behalf of clients but does not include fiduciary receivables.

Schedule of investments

 The Company's investments are as follows (in millions):

As of December 31	2012		2011
Equity method investments (2)	$	102	$	164
Other investments, at cost		43		60
Fixed-maturity securities		20		15
	$	165	$	239

(2)

The reduction in equity method investments is primarily due to redemptions.