Realaktiver

Realaktiver, or real assets, are tangible assets that are used in production or to generate ongoing cash flows. They contrast with financial assets, which derive value from claims or contracts rather than a physical form. Realaktiver include real estate, equipment and machinery, infrastructure such as roads and energy networks, and natural resources like minerals or timber, as well as physical commodities held for use or investment. They are typically long‑lived and can provide diversification or inflation hedging, but they can be illiquid and require active management.

In accounting, realaktiver are usually classified as fixed assets on the balance sheet. Their value is typically measured at cost minus depreciation, with impairment testing. Under IFRS, tangible assets fall under property, plant and equipment (IAS 16); land and buildings can be revalued in some cases, and investment property (IAS 40) is used when assets are held to earn rents. Depletion applies to natural resources. Valuation methods and treatment vary by asset class and accounting framework.

For investors, realaktiver offer cash flows from use or exploitation (rents, tolls, production) and can serve as a long‑term store of value. They tend to be less liquid and exposed to operating, regulatory, environmental, and capital‑cost risks, but they can provide diversification relative to financial assets.

Examples include commercial and residential real estate, manufacturing plants, energy and transportation infrastructure, forestry and mining assets, and other tangible assets used in production or infrastructure.