December 22, 2014 12:00 AM

The largest U.K. pension funds

Rank	Fund	Assets	Fixed Income	Equity	Alternatives	Property	Cash and other
Ranked by total assets, in millions of pounds, as of June 30, 2014.
			ASSET ALLOCATION
1	Universities Superannuation Scheme	£42,600	26.9%	47.7%	18.6%	6.5%	0.2%
2	BT Pension Scheme	£41,213	42.6%	28.1%	17.8%	10.8%	0.8%
3	Lloyds TSB Group	£33,916	45.2%	15.4%	17.0%	4.4%	17.9%
4	Royal Bank of Scotland	£26,843	52.7%	23.9%	10.1%	4.0%	9.3%
5	Barclays Bank	£24,575	45.5%	15.4%	9.9%	5.6%	23.6%
6	Railways Pensions Trustee	£21,147	19.3%	32.0%	28.3%	7.8%	12.6%
7	BP	£20,196	17.5%	62.3%	9.7%	7.0%	3.5%
8	HSBC Bank	£19,860	65.2%	14.7%	0.0%	4.2%	15.9%
9	British Airways	£19,739	36.3%	35.1%	6.5%	6.9%	15.2%
10	BAE Systems	£19,350	41.4%	51.7%	0.0%	6.6%	0.2%
11	National Grid	£18,234	56.7%	26.8%	4.6%	6.3%	5.7%
12	Shell International	£14,678	43.6%	35.1%	12.8%	5.7%	2.8%
13	Strathclyde Pension Fund	£14,471	12.8%	75.6%	0.0%	9.0%	2.6%
14	Greater Manchester Pension Fund	£13,509	17.3%	62.0%	4.5%	10.0%	6.2%
15	Tata Steel UK	£13,003	60.8%	25.2%	1.2%	8.3%	4.5%
16	Mineworkers' Pension Scheme	£12,793	12.1%	63.0%	15.2%	9.5%	0.2%
17	Aviva	£12,224	74.8%	7.7%	0.0%	9.2%	8.4%
18	GlaxoSmithKline	£11,838	34.3%	57.6%	0.0%	2.3%	5.8%
19	British Broadcasting Corp.	£11,101	35.1%	32.4%	18.3%	9.6%	4.6%
20	West Yorkshire Pension Fund	£10,625	15.8%	64.4%	7.7%	3.2%	8.9%
21	West Midlands Pension Fund	£10,489	18.9%	45.9%	23.4%	9.2%	2.6%
22	Rolls-Royce	£10,157	82.8%	10.2%	1.8%	0.0%	5.3%
23	Coal Pension Trustees	£9,377	7.2%	67.1%	17.0%	8.7%	0.0%
24	Imperial Chemical Industries (AkzoNobel)	£8,737	67.2%	7.3%	2.2%	1.0%	22.3%
25	Tesco	£8,441	14.7%	54.1%	13.9%	9.4%	7.8%
26	Santander	£8,260	60.0%	24.0%	0.0%	11.0%	5.0%
27	The Co-operative	£8,049	49.9%	32.9%	13.0%	4.2%	0.0%
28	Transport for London	£7,588	23.1%	55.3%	19.2%	0.0%	2.4%
29	Unilever	£7,147	28.0%	48.5%	13.5%	10.0%	0.0%
30	IBM United Kingdom Pensions Trust	£6,921	55.0%	36.9%	3.2%	4.2%	0.7%
31	Marks & Spencer Group	£6,895	56.6%	25.0%	4.9%	4.1%	9.4%
32	RSA Group	£6,455	66.9%	17.2%	8.4%	2.3%	5.3%
33	Ford Motor Co. Ltd.	£6,374	39.4%	25.7%	8.4%	2.5%	23.9%
34	J. Sainsbury	£6,272	42.2%	29.4%	0.0%	3.7%	24.7%
35	Prudential	£6,272	86.1%	8.3%	0.0%	1.1%	4.4%
36	Merseyside	£6,048	19.6%	59.4%	15.1%	3.1%	2.9%
37	British American Tobacco	£6,032	48.5%	42.0%	0.0%	0.0%	9.5%
38	South Tyneside Metropolitan Borough Council (Tyne & Wear)	£5,968	18.3%	57.2%	13.1%	8.9%	2.6%
39	Centrica	£5,947	56.4%	31.7%	0.0%	4.8%	7.2%
40	Diageo	£5,859	55.0%	26.0%	11.0%	8.0%	0.0%
41	The Pensions Trust	£5,839	23.4%	45.9%	4.7%	5.1%	20.9%
42	South Yorkshire Pensions Authority	£5,780	19.8%	61.3%	6.7%	10.7%	1.6%
43	EDF Energy	£5,513	45.3%	35.3%	2.3%	6.2%	10.9%
44	Jaguar Land Rover	£5,498	66.3%	11.3%	11.3%	4.4%	6.8%
45	Lancashire County Council	£5,367	31.0%	51.0%	9.0%	9.0%	0.0%
46	The Boots Co.	£5,313	83.4%	10.4%	0.0%	5.2%	1.0%
47	Northern Ireland Local Gov't Officers' Superannuation Comm.	£5,287	12.5%	75.0%	0.0%	12.5%	0.0%
48	BMW UK	£5,280	60.0%	17.0%	7.8%	9.4%	5.8%
49	Centrica PLC	£5,082	56.4%	31.7%	7.1%	4.8%	0.1%
50	London Pensions Fund Authority	£5,069	26.4%	47.8%	20.4%	2.7%	2.7%
	Total for top 50	£603,230
Note: Allocations might not total 100% due to rounding.