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RNPFN With-Profits Fund - Asset Allocation

RNPFN With-Profits Fund - Asset Allocation

The tables below show how the with-profits fund was invested recently and also at the end of each of the last 17 years. They also show the target asset mix for each asset type.

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How our with-profits fund was invested as at 30 June 2020

Assets %
UK Equities 7.3%
US Equities 8.7%
European Equities 3.2%
Japanese Equities 3.2%
Asia Pacific Equities 4.0%
Emerging Markets Equities 3.0%
UK Gilts 24.8%
US Government Bonds 7.6%
UK Corporate Bonds 12.8%
High Yield Corporate Bonds 6.4%
Overseas Corporate 9.6% 
Property 1.9%
Dynamic Real Return 6.9%
Cash/Other 0.6%
Assets %
UK Equities 7.3%
US Equities 8.7%
European Equities 3.2%
Japanese Equities 3.2%
Asia Pacific Equities 4.0%
Emerging Markets Equities 3.0%
UK Gilts 24.8%
US Government Bonds 7.6%
UK Corporate Bonds 12.8%
High Yield Corporate Bonds 6.4%
Overseas Corporate 9.6% 
Property 1.9%
Dynamic Real Return 6.9%
Cash/Other 0.6%

How our with-profits fund was invested as at 31 December 2003 - 2019

Assets 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003
Equities 32% 33%  33% 32% 32%  33%  35%  27%  28%  26%  21%  26%  31%  27%  15%  10%  10% 
Property 2% 2%  2% 2% 2% 2% 2% 3%  3%  3%  3%  3%  4%  6%  7%  11% 12% 
Fixed Interest 63% 61%  61% 61%  61%  62%  60%  66%  65%  67%  69%  68%  61%  65%  73%  73%  75% 
Cash/Other 3% 4%  4% 5%  5%  3%  3%  4%  4%  4%  7%  3%  4%  2%  5%  6%  3% 
Assets 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003
Equities 32% 33%  33% 32% 32%  33%  35%  27%  28%  26%  21%  26%  31%  27%  15%  10%  10% 
Property 2% 2%  2% 2% 2% 2% 2% 3%  3%  3%  3%  3%  4%  6%  7%  11% 12% 
Fixed Interest 63% 61%  61% 61%  61%  62%  60%  66%  65%  67%  69%  68%  61%  65%  73%  73%  75% 
Cash/Other 3% 4%  4% 5%  5%  3%  3%  4%  4%  4%  7%  3%  4%  2%  5%  6%  3% 
View table showing the target asset mix for each asset type.
Assets Benchmark
UK Equities 8.00%
US Equities
8.00%
European Equities
3.00%
Japanese Equities
3.00%
Asia Pacific Equities
3.00%
Emerging Markets Equities
3.00%
UK Gilts
27.00%
US Treasuries
9.00%
UK Corporate Bonds 12.00%
High Yield Corporate Bonds 6.00% 
Overseas Corporate Bonds
9.00%
Dynamic Real Return
7.00% 
Cash/Other
2.00%
Where
Equity Backing Ratio (EBR) 31.50%

 *EBR includes DRR at 50%

Please refer to your policy documentation and 'Your guide to how we manage our with profits fund' for more information.