How we invest

Our investments

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The fund value is approximately £20.4bn at March 2023

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The majority of the funds assets are held in the National Loans Fund (NatLF), which is used to meet current and near term liability payments. This allows the investments in the Mixed Assets Portfolio (MAP) to grow with no withdrawals. Although the National Loans Funds investment is the larger of the assets, as the liability payments are made and the MAP grows this dynamic will become more balanced. It is expected that by the early 2050's the National Loans Fund will be fully utilised and the MAP will meet the remaining liabilities.