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 31 December 2024
| Assets | % |
|---|---|
| UK Equities | 5.4% |
| US Equities | 21.0% |
| European Equities | 10.4% |
| Japanese Equities | 3.5% |
| Asia Pacific Equities | 3.0% |
| Emerging Markets Equities | 6.5% |
| UK Gilts | 13.6% |
| US Government Bonds | 12.3% |
| UK Corporate Bonds (Investment Grade) | 2.0% |
| Overseas Corporate Bonds | 13.8% |
| Corporate Bonds (High Yield) | 3.4% |
| Emerging Market Debt | 3.9% |
| Cash/Other | 1.4% |
| Property | 0.0% |
| Assets | % |
|---|---|
| UK Equities | 5.4% |
| US Equities | 21.0% |
| European Equities | 10.4% |
| Japanese Equities | 3.5% |
| Asia Pacific Equities | 3.0% |
| Emerging Markets Equities | 6.5% |
| UK Gilts | 13.6% |
| US Government Bonds | 12.3% |
| UK Corporate Bonds (Investment Grade) | 2.0% |
| Overseas Corporate Bonds | 13.8% |
| Corporate Bonds (High Yield) | 3.4% |
| Emerging Market Debt | 3.9% |
| Cash/Other | 1.4% |
| Property | 0.0% |
How our With-Profits Fund was invested as at 31 December 2003 - 31 December 2024
| Assets | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equities | 50% | 52% | 41% | 38% | 38% | 32% | 33% | 33% | 32% | 32% | 33% | 35% | 27% | 28% | 26% | 21% | 26% | 31% | 27% | 15% | 10% | 10% |
| Property | 0% | 0% | 0% | 1% | 2% | 2% | 2% | 2% | 2% | 2% | 2% | 2% | 3% | 3% | 3% | 3% | 3% | 4% | 6% | 7% | 11% | 12% |
| Fixed Interest | 49% | 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% | 1% | 3% | 4% | 4% | 5% | 5% | 3% | 3% | 4% | 4% | 4% | 7% | 3% | 4% | 2% | 5% | 6% | 3% |
| Assets | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equities | 50% | 52% | 41% | 38% | 38% | 32% | 33% | 33% | 32% | 32% | 33% | 35% | 27% | 28% | 26% | 21% | 26% | 31% | 27% | 15% | 10% | 10% |
| Property | 0% | 0% | 0% | 1% | 2% | 2% | 2% | 2% | 2% | 2% | 2% | 2% | 3% | 3% | 3% | 3% | 3% | 4% | 6% | 7% | 11% | 12% |
| Fixed Interest | 49% | 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% | 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 | 5.4% |
| US Equities | 18.2% |
| European Equities |
10.3% |
| Japanese Equities |
3.4% |
| Asia Pacific Equities |
3.0% |
| Emerging Markets Equities |
5.9% |
| UK Gilts | 12.8% |
| US Government Bonds |
17.7% |
| UK Corporate Bonds (Investment Grade) | 2.0% |
| Overseas Corporate Bonds | 11.8% |
| Corporate Bonds (High Yield) |
6.4% |
| Emerging Market Debt |
1.0% |
| Cash/Other |
2.0% |
| Property |
0.0% |
| Equity Backing Ratio (EBR) | 46.3% |
*EBR is the total of Equity Assets.
Please refer to your policy documentation and 'Your guide to how we manage the RNPFN Fund for with-profits business' for more information.