Portfolio overview
Our diversified global portfolio aims to deliver long-term capital growth while preserving shareholders’ capital. Our flexible investment strategy enables us to invest across different asset classes and geographies, combining thematic investing with prudent risk management.
Portfolio allocation (as a % of NAV)
June 2026
December 2025
The charts above exclude non-investment lines, such as currency, liquidity, borrowings and other assets, representing -1.4% of NAV at 30 June 2026 (December 2025: -0.6%).
Portfolio exposure by region (as a % of net exposure)
June 2026
December 2025
Including exposure gained through the use of derivatives. Excluding non-investment lines, such as currency, liquidity, borrowings and other assets, representing -1.4% of NAV at 30 June 2026 (December 2025: -1.0%) the end of the year (2024: -3%). The Global category includes exposures with no specific geography including gold and some absolute return and credit funds.
Learn more about our diversified portfolio
Diversified, global high-conviction strategies held directly through stocks, as well as public equity funds.
High-quality assets in private markets, held through both direct investments and specialist managers.
A mix of strategies which aim to generate consistent returns in different market conditions, with a lower correlation to equity markets across the cycle.