Portfolio composition
At year-end 2025, the portfolio was divided as follows:
Type of investment | % of actual invested assets at year-end 2025 | HPF return 2025 |
LDI (bonds and interest rate swaps) | 19.6% | -13.4% |
Mortgages | 12.1% | 0.8% |
Alternative Credits/Private High Yield Debt | 9.9% | -4.5% |
Emerging Markets Debt | - | 6.5% |
Bonds | 33.6% | 5.3% |
Real Estate | 14.4% | 9.1% |
Hedgefunds | 7.4% | 6.5% |
Cash | 3.0% | -3.3% |
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