A portion of unrestricted equity that is invested by an entity- that is, it is part of the funds corresponding to existing revalued assets, and as such it is said to be “invested”. It includes holdings gains, as part of the revaluation fund that reflects increases in the value of assets held by the entity. By nature, unrestricted equity is distributable to equity holders without restrictions. However, being “invested” implies that the distribution of this portion of unrestricted equity is technically restricted.