Our With-Profits asset mix
You'll find details of our asset mix within our With-Profits funds below.
With-Profits asset mixes
The investment position of the with-profits funds as at 31 December 2023 was approximately as follows:
| With-Profit funds | Equity | Government bonds / cash | Corporate bonds | Property |
|---|---|---|---|---|
|
Scottish Friendly main fund |
45% |
23% |
21% |
11% |
|
LANMAS |
36% |
41% |
23% |
0% |
|
Rational Shelley |
10% |
90% |
0% |
0% |
|
Scottish Legal Life, UK business |
43% |
30% |
22% |
5% |
|
Scottish Legal Life, RoI business |
51% |
45% |
4% |
0% |
|
Marine & General Mutual - CWP |
28% |
36% |
26% |
10% |
|
Marine & General Mutual - UWP |
43% |
24% |
24% |
9% |
|
Manulife |
8% |
71% |
10% |
11% |
The target investment position of the with-profits funds as at 31 December 2023 was as follows:
| With-Profit funds | Equity | Government bonds / cash | Corporate bonds | Property |
|---|---|---|---|---|
|
Scottish Friendly main fund |
43% |
25% |
20% |
12% |
|
LANMAS |
36% |
40% |
24% |
0% |
|
Rational Shelley |
10% |
90% |
0% |
0% |
|
Scottish Legal Life, UK business |
43% |
30% |
21% |
6% |
|
Scottish Legal Life, RoI business |
50% |
46% |
4% |
0% |
|
Marine & General Mutual - CWP |
26% |
40% |
24% |
10% |
|
Marine & General Mutual - UWP |
42% |
25% |
23% |
10% |
|
Manulife |
8% |
72% |
12% |
8% |
Investment returns
The investment returns applied to the asset shares for the various with-profits funds over 2023 were as follows:
| Return | Investment return applied to Asset Shares |
|---|---|
|
Scottish Friendly |
9.10% |
|
LANMAS |
7.36% |
|
Rational Shelley |
4.09% |
|
Scottish Legal Life, UK business |
5.91% |
|
Scottish Legal Life, RoI business |
13.67% |
|
Marine & General Mutual (UWP) |
7.64% |
|
Marine & General Mutual (CWP) |
6.60% |
|
Manulife |
1.92% |
The Special Members’ Share
We're a mutual and with no shareholders we're owned and run for the benefit of our members, which include our main fund With-Profits policyholders such as you.
As a With-Profits policyholder in our main fund you share in the profits (or losses) that Scottish Friendly makes each year, which are awarded retrospectively to you - we like to call this the ‘Special Members’ Share’.
To ensure The Special Members’ Share is fairly distributed each year our Board, having considered advice from the With-Profits Actuary, decides how the underlying investment return (positive or negative) of the assets backing your policy should be increased or reduced to reflect any profits (or losses) from Scottish Friendly.
For example, With-Profits policyholders joining us just before 2015 have seen a total enhancement to their investment value of 5.3% as a result of the Special Members’ Share.