Yes, the statement is correct.

Explanation:
Non-current investments, also known as long-term investments, are investments that are held by a company or individual for a period exceeding one year. These investments are not intended to be converted into cash within the next year and are typically held for strategic or financial purposes.

Below are the key points explaining the statement:

1. Definition of non-current investments:
- Non-current investments are assets that are not expected to be sold or converted into cash within the next year.
- They are typically held for longer periods and are not meant for short-term gains.

2. Purpose of non-current investments:
- Non-current investments are often made for strategic purposes, such as acquiring a controlling stake in another company or expanding into new markets.
- They can also be made for financial reasons, such as earning a return on investment through interest, dividends, or capital appreciation.

3. Examples of non-current investments:
- Stocks and bonds: These securities are considered non-current investments if they are held for a period longer than one year.
- Real estate: Properties that are held for rental income or long-term appreciation are also considered non-current investments.
- Subsidiaries and associates: Investments in other companies, where the ownership stake is significant but not controlling, are classified as non-current investments.

4. Reporting and valuation:
- Non-current investments are reported on the balance sheet under the long-term assets section.
- They are usually valued at cost or fair value, depending on accounting standards and the nature of the investment.

In conclusion, non-current investments are investments held for a period exceeding one year and are not intended to be converted into cash in the short term. These investments serve strategic or financial purposes and are reported on the balance sheet as long-term assets.