| Growth Portfolio | |
| Bonds | |
| New City High Yield (NCYF) | 6.0% |
| Henderson Diversified Income (HDIV) | 3.5% |
| UK Shares | |
| Finsbury Growth & Income (FGT) | 5.5% |
| BlackRock Throgmorton Trust (THRG) | 4.5% |
| Aberdeen Standard Equity Inc (ASEI) | 4.0% |
| Schroder UK Mid Cap Fund (SCP) | 4.0% |
| Henderson Smaller Cos (HSL) | 4.0% |
| Montanaro UK Smaller Cos (MTU) | 3.5% |
| Oryx International Growth Fund (OIG) | 3.0% |
| Standard Life UK Smaller Cos (SLS) | 3.0% |
| International Shares | |
| JPMorgan Japan Smaller Cos (JPS) | 4.5% |
| North American Income Trust (NAIT) | 4.5% |
| Henderson Far East Income (HFEL) | 4.0% |
| Edinburgh Worldwide (EWI) | 4.0% |
| Templeton Emerging Markets (TEM) | 3.0% |
| Themes | |
| Herald (HRI) | 5.5% |
| HICL Infrastructure Company (HICL) | 4.5% |
| Bluefield Solar Income Fund (BSIF) | 3.5% |
| Standard Life Private Equity (SLPE) | 3.0% |
| International Biotechnology Trust (IBT) | 3.0% |
| BlackRock Commodities Income (BRCI) | 3.0% |
| Allianz Technology Trust (ATT) | 3.0% |
| Commercial property | |
| Standard Life Property Inc (SLI) | 5.5% |
| TR Property (TRY) | 2.5% |
| Cash | 5.5% |
| Total | 100% |
| Income Portfolio | |
| Bonds | |
| New City High Yield (NCYF) | 6.5% |
| Invesco Perpetual Enhanced Inc (IPE) | 5.0% |
| Henderson Diversified Income (HDIV) | 4.0% |
| UK Shares | |
| The Merchants Trust (MRCH) | 5.0% |
| Montanaro UK Smaller Cos (MTU) | 4.0% |
| Finsbury Growth & Income (FGT) | 3.5% |
| Aberdeen Standard Equity Inc (ASEI) | 3.5% |
| Invesco Perpetual UK Smaller Cos (IPU) | 3.0% |
| Shires Income (SHRS) | 2.5% |
| International Shares | |
| Scottish Mortgage Trust (SMT) | 5.5% |
| North American Income Trust (NAIT) | 4.0% |
| Henderson Far East Inc (HFEL) | 3.0% |
| JPMorgan Japan Smaller Cos (JPS) | 2.5% |
| Themes | |
| HICL Infrastructure Company (HICL) | 5.5% |
| Bluefield Solar Income Fund (BSIF) | 5.0% |
| SQN Asset Finance Inc Fund (SQN) | 4.5% |
| Utilico Emerging Markets (UEM) | 3.5% |
| City Natural Resources (CYN) | 3.0% |
| Herald (HRI) | 3.0% |
| Allianz Technology Trust (ATT) | 3.0% |
| Commercial property | |
| Standard Life Property Inc (SLI) | 5.5% |
| Regional REIT (RGL) | 4.0% |
| AEW UK REIT (AEWU) | 4.0% |
| Cash | 7.0% |
| Total | 100% |
Holdings are rounded to the nearest 0.5%
| |||||||||||||||||||||||||||||||||||||
