Investment strategy and asset allocation
In order to meet its liabilities, the Fund has a return seeking strategy, with approximately 90% of the Fund invested in return-seeking areas.
The three main categories in which the Fund invests in order to meet its obligations are equities (quoted and private), fixed interest and alternatives.
The Fund is also exposed to a number of risks which are set out and monitored as part of a formal risk register.
The Fund's 
2019 Investment Strategy Statement [1Mb] further explains its investment strategy, and how the risk and return issues are managed relative to the Fund's investment objectives and underlying pension liabilities.
