Asset Allocation

Equities 44.0
Credit and Emerging Market Debt 35.6
Government Bonds 8.5
Alternatives 7.3
Cash 4.7

Data as at 31/03/2019

Equities

UK Equity 15.8
Europe ex UK Equity 9.6
North America Equity 7.0
Japan Equity 5.0
Emerging Market Equity 3.6
Asia Pacific ex Japan Equity 2.9
Data as at 31/03/2019

Credit and Emerging Market Debt

Global Corporates 10.0
UK Corporate Bonds 7.3
Emerging Market Bonds (Hard Currency) 7.0
Emerging Market Bonds (Local) 5.9
High Yield 5.5
Data as at 31/03/2019

Government Bonds

Global Inflation-Linked Bonds 5.8
Dev ex UK Sovereign 2.7
Data as at 31/03/2019

Alternatives

Listed Infrastructure 3.9
REITS 3.4
Data as at 31/03/2019

Top 10 Holdings

LGIM Global Corporate Bond Fund 10.0
L&G (N) Tracker Trust 9.7
LGIM Sterling Liquidity Fund Class 1 7.8
L&G Sterling Corporate Bond Index Fund 7.3
L&G European Index Trust 7.2
L&G Emerging Markets Government Bond (US$) Index Fund 7.0
L&G US Index Trust 6.8
L&G Emerging Markets Government Bond (Local Currency) Index Fund 5.9
L&G High Income Trust 5.5
L&G UK MID Cap Index Fund 4.2

Data as at 31/03/2019.