With-Profits

Teachers Assurance is a trading name of Teachers Provident Society Limited, which is a mutual, friendly society.

As a mutual, friendly society, we have no shareholders. Our profits are used to benefit our members.

When you save or invest in a Plan linked to our With-Profits Fund, you automatically become a member of the Society.

Find out about the investment philosophy and asset mix of the With-Profits Funds below.

Principles and Practices of Financial Management

The Financial Services Authority requires all friendly societies and insurance companies writing With-Profits business to establish and maintain Principles and Practices of Financial Management (PPFM) to explain how the With-Profits business is managed.

The PPFM is a technical document so we also publish consumer friendly Guides to how we manage the With-Profits Fund.

You can download these documents from this page or call us on 0800 056 0563 if you’d like a copy sent to you by post.

With-Profits asset mix

Our With-Profits Funds can invest in a range of assets including equities (company shares), government bonds (gilts), corporate bonds, property and cash.

How much you get back will depend on a number of factors including how long you hold your investment, the types of asset held by the Fund and how well these assets perform.

The mix of assets may change over time. During periods of turbulence in economic and investment conditions, as seen in 2000-2003 and 2008-2009, we may take a relatively cautious approach to investment by holding more of the Fund in cash and government bonds. We do this to protect the interests of our members who invest in the Fund and to reduce the ups and downs in comparison to holding a larger proportion of the Fund in equities.

Our target is to hold around 60% of the Fund in equities and property combined. Over the longer term, equities are generally considered to provide the best opportunity for investment returns. The investment performance of the Fund and the overall return you can expect depends on the mix of assets held over the lifetime of your Plan.

The target asset mix of the Funds is shown below.

Target Position

Position as at 31st December 2012 (Unitised Taxable)

Position as at 31st December 2012 (Unitised Tax-Exempt)

Position as at 31st December 2012 (Conventional)

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