A summary of how our investments performed in 2022.
The market value of the Foundation's investments at the end of 2022 was £1.303 billion. The portfolio’s total return of -9.6% in 2021 compared to the Foundation's long-term investment objective (RPI+4%) which was up 17.9% during the year.
Looking back over one-year, three-year, five-year and since-inception, the performance of the portfolio against our long-term investment objectives is as follows:
| Annualised performance over... | Actual return % | Target return % (UK RPI +4%) | Over/(under) performance % |
|---|---|---|---|
| 1 year | -9.6 | 17.9 | -27.5 |
| 3 years | 9.1 | 11.6 | -2.5 |
| 5 years | 8.3 | 9.5 | -1.2 |
| 10 years | 9.0 | 8.0 | 1.0 |
| Since inception (2000) | 7.5 | 7.5 | 0 |
Asset allocation of our investment portfolio
The chart below shows the asset allocation of our investment portfolio at the end of 2022.
| 2022 % | 2021 % | Change % | |
|---|---|---|---|
| Global equities | 33.3 | 33.4 | (0.1) |
| Emerging equities | 3.5 | 3.3 | 0.2 |
| Private investments | 36.7 | 37.4 | (0.7) |
| Hedge funds | 8.7 | 7.3 | 1.4 |
| 2022 % | 2021 % | Change % | |
|---|---|---|---|
| Low volatility funds | 12.5 | 10.2 | 2.3 |
| 2022 % | 2021 % | Change % | |
|---|---|---|---|
| Investment cash | 4.6 | 8.5 | (3.9) |
| Currency hedge | 0.7 | (0.1) | 0.8 |
