| Asset class | Target allocation | Permitted range | Allocation | Allocation |
|---|---|---|---|---|
| 31.12.2024 | 31.12.2024 | |||
| % | % | % | € mln | |
| Global Equity | 21 | 7 – 23 | 20,6 | 132,4 |
| Infrastructure Equities | 7 | 0 – 16 | 6,8 | 43,4 |
| Private Equity | 2 | 0 - 4 | 0 | 0 |
| Global Property | 4 | 0 - 10 | 5,5 | 35,4 |
| Local Property* | 11 | 6 - 16 | 10,4 | 66,5 |
| Hedge Funds | 3 | 0 – 10 | 3,1 | 20,2 |
| - Total Growth Assets | 48 | 13 – 79 | 46,4 | 297,9 |
| Absolute Return Bond Funds | 8 | 3 - 13 | 4,7 | 30,1 |
| European Government Bonds | 15 | 5 – 25 | 18,5 | 118,7 |
| Global Investment Grade Bonds | 10 | 5 - 15 | 13 | 83,5 |
| High Yield Debt | 2 | 0 - 4 | 0,8 | 5,4 |
| Private Debt | 2 | 0 - 4 | 0 | 0 |
| Cash (Local & Cash Funds) | 15 | 5 – 55 | 16,6 | 106,4 |
| - Total Income Assets | 52 | 18 – 116 | 53,6 | 344,1 |
| - TOTAL | 100 | 100 | 642,0 | |
| Implied Expected Return (over 10 years time horizon) | 5,2% per annum | |||
| Implied Risk on Return: 5% Level Return (over 10 years time horizon) | 1,3% per annum |
* The Trustees would take all necessary steps not to reach the maximum level for this asset class although they recognise that an increase in value may result due to the particular circumstances of the Fund. It is the Trustees intention not to actively pursue any investment move or initiative that increases the Fund’s position and exposure in this particular asset class.
** The definition of Return Risk implies that there is a 5% probability that the return over the 10 year period is on average 1,3% p.a. or worse.