Pension funds

Fixed interest

Fixed Interest Assets & Holdings as at 30 September 2008

High Yield Corporate Bond
Asset Allocation%Top Holdings%
Non-Government 0-5 yrs 21.5European Investment Bank 6 07/12/2028 2.7
Non-Government 5-15 yrs 26.6Euro Inv Bank 5.625% Bds 7/6/2032 Gbp(va 2.1
Non-Government Over 15 yrs 19.2Network Rail Mtn F 4.875% Sec 06/03/09 G 1.8
Non-Government High Yield 0-5 yrs 8.8Kfw 5.125% 07/01/2011 1.8
Non-Government High Yield 5-15 yrs 15.0Boats Invest Netherlands 0 31/03/17 Emtn 1.6
Non-Government High Yield Over 15 yrs 1.8Fmg Finance 9.75 01/09/2013 Regs 1.5
0-5 yrs 0.1Euro Inv Bank 4.375% Mtn 06.03.2009 GBP 1.4
Forwards 0.6Constellation Brands 8.5 15/11/2009 Ceur 1.4
Cash 6.4Sazka 8.5 12/07/2021 1.3
  Txu Energy Co. 10.25 01/11/2011 144a 1.3

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Index-Linked
Asset Allocation%Top Holdings%
Index Linked 0-5 yrs 23.1UK Treasury Il 2.5 26/07/2016 12.3
Index Linked 5-15 yrs 32.6UK Treasury Il 2.5 16/08/2013 10.6
Index Linked Over 15 yrs 43.7UK Treasury Il 2.5 16/04/2020 10.5
Cash 0.6UK Treasury Il 2.5 17/07/2024 9.8
  UK Treasury Il 2 26/01/2035 9.1

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Long Gilt
Asset Allocation%Top Holdings%
Government Over 15 yrs 99.6UK Treasury 4.25 07/06/2032 13.0
Cash 0.4UK Treasury 5 07/03/2025 12.6
  UK Treasury 4.25 07/03/2036 12.4
  UK Treasury 4.75 07/12/2038 11.8

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Overseas Bond
Asset Allocation%Top Holdings%
North America Gov 0-5 yrs 5.0Germany(fed Rep) 3.25% Bds 04/07/15 Eur0 10.7
North America Gov 5-15 yrs 11.9Japan(govt Of) 1.5% Bds 20/12/17 Jpy5000 8.7
North America Gov Over 15 yrs 2.0Spain 5% 30/07/2012 6.7
Europe ex UK Gov 0-5 yrs 13.4Germany (fed Rep) 2.5% 08/10/2010 6.7
Europe ex UK Gov 5-15 yrs 19.8Germany (fed Rep) 3.75% 04/01/2017 6.6
Europe ex UK Gov Over 15 yrs 6.5Japan 1.4 20/12/2011 JB235 5.8
Japan Gov 0-5 yrs 15.1Japan(govt Of) 0.6% Bds 15/04/10 JPY 4.9
Japan Gov 5-15 yrs 13.8US Treasury N/b T4.75% 15/08/2017 4.5
Japan Gov Over 15 yrs 3.2Bundesrepub 4.75 04/07/2034 4.4
Australian Gov 5-15 yrs 0.8US Treasury 4.5 15/02/2016 4.1
Cash 8.5  

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SE AEGON Core Plus
Asset Allocation%Top Holdings%
Government 0-5 yrs 2.3UK Treasury 4.25 07/06/2032 6.1
Government 5-15 yrs 7.8UK Treasury 5 07/03/2025 4.2
Government Over 15 yrs 19.1UK Treasury 4.25 07/03/2036 3.9
Non-Government 0-5 yrs 6.8UK Treasury 4.25 07/12/2055 2.5
Non-Government 5-15 yrs 37.9UK Treasury 6 07/12/2028 2.4
Non-Government Over 15 yrs 18.2Permanent Financing Plc 10/06/2042 Frn 2.3
Non-Government High Yield 0-5 yrs 1.0European Invest Bank 6.5% 10/09/2014 2.3
Non-Government High Yield 5-15 yrs 0.4UK Treasury 4.75 07/12/2038 2.1
Forwards 0.3  
Other 0.3  
Cash 5.9  

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SE AEGON Enhanced Corporate Bond
Asset Allocation%Top Holdings%
Government 0-5 yrs 1.4UK Treasury 4.75% 07/09/2015 2.1
Government 5-15 yrs 0.6British Telecom 6.625% Emtn 23/06/2017 2.0
Government Over 15 yrs 10.0UK Treasury 4.25 07/06/2032 5.2
Non-Government 0-5 yrs 22.1Permanent Financing Plc 10/06/2042 Frn 3.6
Non-Government 5-15 yrs 39.4Euro Inv Bank 5.375% Gtd Bds 7/6/2021 Gb 3.4
Non-Government Over 15 yrs 24.6Euro Inv Bank 6% 15/07/2009 3.2
Forwards 0.1Euro Inv Bank 8.75% Bds 25/8/17 Gbp(var) 2.9
Derivatives 0.7Wells Fargo Co Frn 25/01/2012 2.6
Cash 1.0Merrill Lynch Frn 21/02/2012 2.3
  Network Rail Infra 4.75% Mtn 29/11/35 Gb 2.3
  Cumbernauld Funding 4.55 15/02/2013 2.1
  Ibrd 5.4% 07/06/2021 1.9

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SE AEGON Enhanced Long Corporate Bond
Asset Allocation%Top Holdings%
Government Over 15 yrs 10.5UK Treasury 4.25 07/06/2032 7.3
Non-Government 5-15 yrs 27.5Euro Inv Bank 5.5% Bds 15/4/2025 Gbp1000 6.5
Non-Government Over 15 yrs 60.1European Investment Bank 6 07/12/2028 5.6
Forwards 0.1UK Treasury 4.75 07/12/2038 2.4
Derivatives 6.0European Invest Bank 6.5% 10/09/2014 2.1
Cash- 4.1Network Rail Infra 4.75% Mtn 29/11/35 Gb 2.1
  Thpa Finance 7.127 15/03/2024 1.9
  Glaxosmithkline 6.375% 15.05.38 1.8
  Dignity Finance 8.151% A/b Bds 31/12/30 1.8
  Iridal Plc 5% 07/03/2035 1.7

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SE AEGON Ethical Corporate Bond
Asset Allocation%Top Holdings%
Non-Government 0-5 yrs 21.0Nationwide Bldg Society 6.024 06/02/13 2.7
Non-Government 5-15 yrs 36.4Cumbernauld Funding 4.55 15/02/2013 2.6
Non-Government Over 15 yrs 31.7EUR Bk Recon + Dev 5.625 07/12/2028 2.3
Non-Government High Yield 0-5 yrs 1.4Co-operative Bank 5.875 02/04/2014 2.3
Cash 9.5Land Securities 4.875 29/09/2025 Emtn 2.2
  Trafford Centre Fin Ltd 6.5% 28/07/2033 2.2
  Allied Irish Bks 7.875% Var 05/12/18 2.2
  Telereal Sec 6.1645 20.08.25 2.1
  Bank Of Ireland 9.25 07/08/2015 2.1
  Aviva Plc 6.875% 20.05.38 1.9

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SE AEGON Global Bond
Asset Allocation%Top Holdings%
Non-Government 0-5 yrs 31.0Kfw 6 15/07/2009 10.0
Non-Government 5-15 yrs 35.2Jti Finance UK 5.75% 06/02/2013 3.7
Non-Government Over 15 yrs 23.3Toronto Dominion Bank 5.375 14/05/2015 3.2
Non-Government High Yield 0-5 yrs 5.1Imperial Tobacco 7.25 15/09/2014 2.8
Non-Government High Yield 5-15 yrs 3.8Nationwide Bldg Society 6.024 06/02/13 2.8
Forwards 1.6Wells Fargo Co Frn 25/01/2012 2.7
Derivatives- 5.9Conocophillips 5.9% 15/05/2038 2.6
Cash 6.0Collins Stewart Tullett 8.25% 12/08/2014 2.5
  Danske Bank A/s 5.375 18/08/2014 2.5
  Northern Rock 5.625 13/01/2015 2.4

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SE AEGON High Yield Bond
Asset Allocation%Top Holdings%
Non-Government 0-5 yrs 11.9Boats Invest Netherlands 0 31/03/17 Emtn 3.2
Non-Government 5-15 yrs 18.4Fmg Finance 9.75 01/09/2013 Regs 3.1
Non-Government Over 15 yrs 5.9Constellation Brands 8.5 15/11/2009 Ceur 2.8
Non-Government High Yield 0-5 yrs 18.2Sazka 8.5 12/07/2021 2.7
Non-Government High Yield 5-15 yrs 30.9Txu Energy Co. 10.25 01/11/2011 144a 2.6
Non-Government High Yield Over 15 yrs 3.7Virgin Media Finance Plc 9.75 15/04/2014 2.5
Forwards 1.3Lottomatica 8.25 31/03/2066 2.5
Cash 9.9Intergen Nv 9.5 30/06/2017 Regs 2.3
  Smfg Preferred Cap 10.23125/01/29 Perp 2.3
  Globe 5.632 26/09/2021 2.2

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SE AEGON Investment Grade Bond
Asset Allocation%Top Holdings%
Government 5-15 yrs 2.4UK Treasury 4.25 07/12/2046 3.3
Government Over 15 yrs 5.0UK Treasury 5 07/03/2018 2.4
Non-Government 0-5 yrs 14.1Lloyds Tsb Bank 6.9625 29/05/2020 Emtn 2.0
Non-Government 5-15 yrs 45.7Imperial Tobacco 7.25 15/09/2014 1.9
Non-Government Over 15 yrs 21.9Credit Agricole 7.589 30/01/2020 Perp 1.8
Non-Government High Yield 0-5 yrs 2.5Ubs Ag Stanford 5.875 20/12/2017series Dpnt 1.8
Non-Government High Yield 5-15 yrs 1.0Nationwide Bldg Society 6.024 06/02/13 1.7
Forwards 0.7Firstgroup Plc 8.125% 19/09/2018 1.6
Derivatives 2.2Wachovia Bk Noca 6 23/05/2013 1.6
Cash 4.4Mellon Capital Iii 6.369% 19/09/2016 1.6

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SE AEGON Sterling Corporate Bond
Asset Allocation%Top Holdings%
Government Over 15 yrs 0.7Imperial Tobacco 6.875% 13/06/2012 3.0
Non-Government 0-5 yrs 26.5Punch Taverns Fina 6.82% Nts 08.10.15 2.5
Non-Government 5-15 yrs 38.3Citigroup Inc 6.8% 25-06-2038 2.5
Non-Government Over 15 yrs 27.3Lloyds Tsb Bank 9.625% 06/04/2023 2.2
Non-Government High Yield 0-5 yrs 1.5Abbey National 6.984 09/02/2018 Perp 2.2
Derivatives- 5.6Argon Capital Plc 8.162% 05/10/2012 2.2
Cash 11.3Nationwide Bldg Society 6.024 06/02/13 2.1
  Freshwater Finance 4.607 17/10/2036 2.0
  Talisman Fin Frn 23/12/2015 2.0
  Citigroup Capital Xviii 6.829 28/06/2067 2.0

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SE Baillie Gifford High Yield Bond
Asset Allocation%Top Holdings%
Index Linked 1.0Heckler & Koch 9.25% 2011 3.7
Other UK Fixed Interest 33.4Impress Holdings 9.25% 2014 3.6
Overseas Bonds 64.8Clondalkin Ind 8% 15/03/2014 3.5
Cash 0.8TRW Automotive 6.375% 2014 3.4
  Iron Mountain 7.25% 2014 3.4
  Intergen 9.5 30/06/2017 3.2
  New World Resources 7.375% 2015 3.2
  Consol Glass 7.625% 04/04/2014 3.1
  Rexam 6.75 2017-67 3.1
  Linde 8.125% 2016/66 3.1

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SE BGI Over 15 Years Corporate Bond
Asset Allocation%Top Holdings%
UK Corporate Bond 100.0European 6% 12/28 3.7
  Kreditanstalt 6% 12/28 3.2
  European 5.625% 06/32 2.4
  European 5% 04/39 1.9
  Kreditanstalt 5.75% 06/32 1.6
  Italy(Republic 6% 08/28 1.5
  Network Rail 4.75% 11/35 1.3
  Bank Of America 7% 07/28 1.2
  European 5.5% 04/25 1.1
  Lcr Finance 5.1% 03/51 1.1

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SE BGI Over 15 Years UK Gilt Index
Asset Allocation%Top Holdings%
UK Gilt 100.0Treasury 5% 03/25 11.5
  Treasury 4.25% 06/32 11.3
  Treasury 4.75% 12/38 10.8
  Treasury 4.25% 03/36 10.3
  Treasury 4.5% 12/42 10.1
  Treasury 6% 12/28 10.0
  Treasury 4.25% 12/55 9.2
  Treasury 4.25% 12/46 9.0
  Treasury 4.25% 12/27 8.8
  Treasury 4.75% 12/30 7.6

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SE BGI Over 5 Years UK Index-Linked Gilt Index
Asset Allocation%Top Holdings%
UK Index Linked Gilt 100.0Treasury Var 07/16 16.6
  Treasury Var 04/20 14.0
  Treasury Var 07/24 13.0
  Treasury Var 01/35 11.3
  Treasury Var 07/30 9.7
  Treasury Var 11/17 7.8
  Treasury Var 11/37 7.3
  Treasury Var 11/27 7.0
  Treasury Var 11/55 6.2
  Treasury Var 11/22 4.7

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SE Invesco Perpetual Corporate Bond
Asset Allocation%Top Holdings%
AAA 7.4Treasury 4.25% £ Stock 7/6/2032 2.4
AA 8.6National Grid 5.25% £ Bonds 2/6/2011 1.8
A 33.2Fed Rep of Germany 4.25% E Bonds 04/07/2039 1.7
BBB 34.9Siemens 6.125% £ Bonds 14/9/2016 1.6
BB 6.6Carlton Comms 5.625% £ Bonds 2/3/2009 1.5
B 2.3Deutsche Telekom 5.625% £ Bonds 19/07/2013 1.4
CCC 0.4Barclays Bank 8.25% £ Perp Bonds 1.4
CC 0.2Safeway 6% £ Bonds 10/1/2017 1.3
Non-Rated (Investment Grade) 3.9Alstom 6.25% Euro Bonds 3/3/2010 1.2
Non-Rated (High Yield) 1.9BAA 5.225% £ Bonds 15/2/2025 1.1
Cash 0.6  

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UK Corporate Bond
Asset Allocation%Top Holdings%
Non-Government 0-5 yrs 31.1European Investment Bank 6 07/12/2028 5.4
Non-Government 5-15 yrs 35.0Euro Inv Bank 5.625% Bds 7/6/2032 Gbp(va 4.2
Non-Government Over 15 yrs 32.3Network Rail Mtn F 4.875% Sec 06/03/09 G 3.6
0-5 yrs 0.3Kfw 5.125% 07/01/2011 3.5
Cash 1.2Euro Inv Bank 4.375% Mtn 06.03.2009 GBP 2.9
  Euro Inv Bank 5.375% Gtd Bds 7/6/2021 Gb 2.4
  Institut Credito Oficial 5% 07/12/2009 2.4
  Abu Dhabi Com Bk 5.625 16/11/11 Emtn 1.9
  Barclays Bank 6.875%frn 27/11/2015 Perp 1.6
  Leaseplan Finance 5.5% 01/12/2009 GBP 1.4

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UK Fixed Interest
Asset Allocation%Top Holdings%
Government 0-5 yrs 13.9UK Treasury 5 07/03/2018 6.0
Government 5-15 yrs 10.8UK Treasury 4.75 07/06/2010 5.5
Government Over 15 yrs 19.2UK Treasury 6 07/12/2028 5.5
Non-Government 0-5 yrs 14.4UK Treasury 4 07/03/2009 4.4
Non-Government 5-15 yrs 22.1UK Treasury 8 07/06/2021 3.4
Non-Government Over 15 yrs 17.2UK Treasury 4.25 07/06/2032 3.3
Non-Government High Yield 0-5 yrs 0.2UK Treasury 4.5 07/03/2013 2.6
Non-Government High Yield 5-15 yrs 0.1UK Treasury 4.75 07/12/2038 2.6
0-5 yrs 0.1European Investment Bank 6 07/12/2028 2.3
Forwards 0.1Euro Inv Bank 5.625% Bds 7/6/2032 Gbp(va 1.8
Other 0.1  
Cash 1.9  

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UK Government Bond
Asset Allocation%Top Holdings%
Government 0-5 yrs 34.9UK Treasury 5 07/03/2018 15.5
Government 5-15 yrs 24.3UK Treasury 4.75 07/06/2010 14.4
Government Over 15 yrs 40.4UK Treasury 6 07/12/2028 14.3
Cash 0.4UK Treasury 4 07/03/2009 11.4
  UK Treasury 8 07/06/2021 8.8

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UK Long Corporate Bond
Asset Allocation%Top Holdings%
Non-Government 5-15 yrs 29.2Euro Inv Bank 5.625% Bds 7/6/2032 Gbp(va 7.3
Non-Government Over 15 yrs 64.7Euro Inv Bank 4.625% Bds 12/10/54 4.2
Derivatives 10.8Intl Bank Recon&dv 5.75% Bds 7/6/32 GBP 4.0
Cash- 4.7Euro Inv Bank 5.375% Gtd Bds 7/6/2021 Gb 3.7
  Euro Inv Bank 5.5% Bds 15/4/2025 Gbp1000 2.8
  Housing Fin Corp 8.625% Deb Stk 13/11/23 2.4
  Canary Wharf Ii 6.455 22/04/2030 1.9
  Standard Chartered Bk 5.375 14/07/2020 1.9
  Punch Taverns Finance 6.468% 15/04/2033 1.8
  Thpa Finance 7.127 15/03/2024 1.7

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Bonus declaration

2006 Bonus declaration

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