Strategic Asset Allocation

HOW WE INVEST

Strategic Asset Allocation

(As of 30 June 2018)

The Strategic Asset Allocation (SAA) consists of global equities (58%), real assets (9%), alternative investments (5%), global fixed income (26.5%), and cash (1.5%).

Asset Classes Policy (%) Range (%) Actual (%)
Global Equities 58.0 50 - 69 60.8
Real Assets 9.0 3 - 10 6.6
Alternative Investments 5.0 0 - 10 3.8
Subtotal (Equities and Equity-like Assets) 72.0 71.2
Global Fixed Income 26.5 19 - 37 26.2
Cash & Short-term 1.5 0 - 6 2.6
Subtotal (Cash and Fixed Income) 28.0 28.8
TOTAL 100.0 100.0

 

Note:
Strategic Asset Allocation (SAA) represents long-term asset allocation targets, together with tactical asset allocation ranges effective 1 August 2015 based on the 2015 ALM Study.
Global Equities include Public Equity (including REITs) and Green Equity strategies.
Real Assets include Real Estate, Infrastructure, Timberland and Commodities (Real Return Funds).
Alternative Investments includes Private Equity.
Subtotal numbers may not add up due to rounding effects.
Numbers for the current year are preliminary and are subject to change.
(Data from independent Master Record Keeper)