With-Profits funds
Here you'll find details of our asset mix and the investment returns within our With-Profits funds.
You can also find out more about the fund; your friendly guide, what it is in simple terms, what happens if you take money out and how we manage our funds.
Our With-Profits asset mix
The investment position of the With-Profits funds as at 31 December 2023 was approximately as follows:
| With-Profits 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% |
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 | 9.1% |
| LANMAS | 7.3% |
| Rational Shelley | 4.0% |
| Scottish Legal Life, UK business | 5.9% |
| Scottish Legal Life, RoI business | 13.6% |
| Marine & General Mutual (UWP) | 7.6% |
| Marine & General Mutual (CWP) | 6.6% |
| Manulife | 1.9% |
What happens if you take money out?
If you have a Unitised With-Profits plan and take money out of the With-Profits fund, we may adjust the value of your plan, if the value of the underlying assets is less than the value of your plan including all bonuses.
This adjustment is known as a Market Value Reduction (MVR). It's designed to protect investors who are not taking their money out and it's application means that you get a return based on the earnings of the With-Profits fund over the period your payments have been invested.
Scottish Bond Plus Product Guide
We've reviewed the product guide for the Scottish Bond Plus product to make it clear that the product will adopt the same asset mix as other Scottish Friendly main fund with-profits products:
“Normally between 20% - 70% of the assets backing your policy will be invested in shares and property with the rest in cash, government and corporate bonds”.