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Asset Allocation - Teachers Assurance fund

Asset Allocation of the Teachers Assurance Fund

We want to make it transparent to our policyholders about where their money is being invested

  • This section looks at the spread of investment and the breakdown of the share of our with-profits fund. It also shows the target asset mix and the permitted range for each asset type.

The spread of investments in the with-profits fund

The table below shows the actual asset mixes for the three sub-funds as at 31 March 2026.

Asset Type Conventional with-profits Unitised with-profits taxable Unitised with-profits tax exempt
UK equities 8.1% 8.1% 8.1%
Overseas equities 56.2% 56.4% 56.4%
Property 0.0% 0.0% 0.0%
UK government interest-bearing securities 10.5% 10.5% 10.5%
Other interest-bearing securities 21.2% 21.2% 21.3%
Deposits and cash 4.0% 3.8% 3.7%
Total 100.0% 100.0% 100.0%
Asset Type Conventional with-profits Unitised with-profits taxable Unitised with-profits tax exempt
UK equities 8.1% 8.1% 8.1%
Overseas equities 56.2% 56.4% 56.4%
Property 0.0% 0.0% 0.0%
UK government interest-bearing securities 10.5% 10.5% 10.5%
Other interest-bearing securities 21.2% 21.2% 21.3%
Deposits and cash 4.0% 3.8% 3.7%
Total 100.0% 100.0% 100.0%

The table below shows the target asset mix for each asset type. The same target mix is used for each sub-fund.

View table for the target asset mix for each asset type.

The spread of investments in the Estate Fund

The table below shows the actual asset mix as at 31 March 2026.

Assets %
Corporate Bonds
 36.1%
Gilts
 22.4%
Cash/Other
 41.5%

Assets %
Corporate Bonds
 36.1%
Gilts
 22.4%
Cash/Other
 41.5%