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 several 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 2024
| Assets | % |
|---|---|
| UK Equities | 5.30% |
| Global Sustainable | 1.60% |
| US Equities | 16.80% |
| European Equities | 10.30% |
| Japanese Equities | 3.50% |
| Asia Pacific Equities | 3.00% |
| Emerging Markets Equities | 6.10% |
| UK Gilts | 12.70% |
| US Government Bonds | 17.70% |
| Corporate Bonds (Investment Grade) | 2.00% |
| Overseas Corporate Bonds | 11.80% |
| Corporate Bonds (High Yield) | 6.40% |
| Emerging Market Debt | 1.00% |
| Cash/Other | 1.80% |
| Assets | % |
|---|---|
| UK Equities | 5.30% |
| Global Sustainable | 1.60% |
| US Equities | 16.80% |
| European Equities | 10.30% |
| Japanese Equities | 3.50% |
| Asia Pacific Equities | 3.00% |
| Emerging Markets Equities | 6.10% |
| UK Gilts | 12.70% |
| US Government Bonds | 17.70% |
| Corporate Bonds (Investment Grade) | 2.00% |
| Overseas Corporate Bonds | 11.80% |
| Corporate Bonds (High Yield) | 6.40% |
| Emerging Market Debt | 1.00% |
| Cash/Other | 1.80% |
How our With-Profits Fund was invested as at 31 December 2003 - 31 December 2023
| Assets | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equities | 52% | 41% | 38% | 38% | 32% | 33% | 33% | 32% | 32% | 33% | 35% | 27% | 28% | 26% | 21% | 26% | 31% | 27% | 15% | 10% | 10% |
| Property | 0% | 0% | 1% | 2% | 2% | 2% | 2% | 2% | 2% | 2% | 2% | 3% | 3% | 3% | 3% | 3% | 4% | 6% | 7% | 11% | 12% |
| Fixed Interest | 47% | 58% | 61% | 60% | 63% | 61% | 61% | 61% | 61% | 62% | 60% | 66% | 65% | 67% | 69% | 68% | 61% | 65% | 73% | 73% | 75% |
| Cash/Other | 1% | 1% | 1% | 1% | 3% | 4% | 4% | 5% | 5% | 3% | 3% | 4% | 4% | 4% | 7% | 3% | 4% | 2% | 5% | 6% | 3% |
| Assets | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equities | 52% | 41% | 38% | 38% | 32% | 33% | 33% | 32% | 32% | 33% | 35% | 27% | 28% | 26% | 21% | 26% | 31% | 27% | 15% | 10% | 10% |
| Property | 0% | 0% | 1% | 2% | 2% | 2% | 2% | 2% | 2% | 2% | 2% | 3% | 3% | 3% | 3% | 3% | 4% | 6% | 7% | 11% | 12% |
| Fixed Interest | 47% | 58% | 61% | 60% | 63% | 61% | 61% | 61% | 61% | 62% | 60% | 66% | 65% | 67% | 69% | 68% | 61% | 65% | 73% | 73% | 75% |
| Cash/Other | 1% | 1% | 1% | 1% | 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 | 5.50% |
| US Equities | 17.00% |
| European Equities |
10.50% |
| Japanese Equities |
3.50% |
| Asia Pacific Equities |
3.00% |
| Emerging Markets Equities |
6.00% |
| UK Gilts | 12.00% |
| US Government Bonds |
13.00% |
| Corporate Bonds (Investment Grade) | 2.00% |
| Overseas Corporate Bonds | 12.00% |
| Corporate Bonds (High Yield) |
6.50% |
| Emerging Market Debt |
1.00% |
| Cash |
2.00% |
| Other |
6.00% |
| Where | |
| Equity Backing Ratio (EBR) | 45.50% |
*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.