Portfolio composition

At year-end 2023, the portfolio was divided as follows:

LDI (bonds and interest rate swaps)	23.5%
Mortgages	13.0%
Alternative Credits/Private High Yield Debt	10.6%
Emerging Markets Debt	1.1%
Bonds	31.8%
Real Estate	12.3%
Hedgefunds	7.2%
Cash	0.2%
Valuta hedge	0.5%