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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 15 years. They also show the target asset mix and the permitted range for each asset type.

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How our with-profits fund was invested as at 30 June 2018

Assets %
UK Equities 17.2%
US Equities 2.0%
European Equities 2.6%
Japanese Equities 2.8%
Asia Pacific Equities 2.3%
Emerging Markets Equities 1.2%
UK Gilts 35.9%
UK Corporate Bonds 19.3%
UK Corporate Bonds (High Yield) 5.4%
Property 2.2%
Dynamic Real Return 4.9%
Cash/Other 4.2%
Assets %
UK Equities 17.2%
US Equities 2.0%
European Equities 2.6%
Japanese Equities 2.8%
Asia Pacific Equities 2.3%
Emerging Markets Equities 1.2%
UK Gilts 35.9%
UK Corporate Bonds 19.3%
UK Corporate Bonds (High Yield) 5.4%
Property 2.2%
Dynamic Real Return 4.9%
Cash/Other 4.2%

How our with profits fund was invested as at 31 December 2003 - 2017

Assets 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008  2007   2006 2005   2004  2003
Equities  33% 32% 32%  33%  35%  27%  28%  26%  21%  26%  31%  27%  15%  10%  10% 
Property  2% 2% 2% 2% 2% 3%  3%  3%  3%  3%  4%  6%  7%  11% 12% 
Fixed Interest  61% 61%  61%  62%  60%  66%  65%  67%  69%  68%  61%  65%  73%  73%  75% 
Cash/Other  4% 5%  5%  3%  3%  4%  4%  4%  7%  3%  4%  2%  5%  6%  3% 
Assets 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008  2007   2006 2005   2004  2003
Equities  33% 32% 32%  33%  35%  27%  28%  26%  21%  26%  31%  27%  15%  10%  10% 
Property  2% 2% 2% 2% 2% 3%  3%  3%  3%  3%  4%  6%  7%  11% 12% 
Fixed Interest  61% 61%  61%  62%  60%  66%  65%  67%  69%  68%  61%  65%  73%  73%  75% 
Cash/Other  4% 5%  5%  3%  3%  4%  4%  4%  7%  3%  4%  2%  5%  6%  3% 
View table showing the target asset mix and the permitted range for each asset type.
Assets Benchmark Permitted Range
UK Equities 17.50% 15.00% to 22.00%
US Equities
2.50%
0.00% to 5.00%
European Equities
1.75%
0.00% to 4.00%
Japanese Equities
1.50%
0.00% to 3.00%
Asia Pacific Equities
1.50%
0.00% to 3.00%
Emerging Markets Equities
1.25%
0.00% to 3.00% 
UK Gilts
38.50%
20.00% to 45.00%
UK Corporate Bonds
21.50%
0.00% to 35.00%
UK Corporate Bonds (High Yield)
5.00% 
0.00% to 7.00% 
Property
0.00%
 N/A
Dynamic Real Return
5.00% 
4.80% to 5.20% 
Cash/Other
4.00%
0.50% to 10.00%
Where
Total Equities
31.00%
26.50% to 35.50%

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