List of Stock Holdings

August 2014

Equities
Name
Valuation (£m)
% of Net Assets
Cumulative (%)
Visa
76.4
2.7
2.7
Walt Disney
75.3
2.6
5.3
CVS Caremark
66.6
2.3
7.6
Pfizer
65.2
2.3
9.9
Accenture
57.9
2.0
11.9
Qualcomm
57.1
2.0
13.8
Prudential
56.9
2.0
15.8
Enterprise Products Partners
56.5
2.0
17.8
United Technologies
48.2
1.7
19.5
National Grid
47.2
1.6
21.1
Express Scripts Holding
47.1
1.6
22.7
Amgen
46.9
1.6
24.4
HSBC
43.2
1.5
25.9
Wells Fargo
43.1
1.5
27.4
Legal & General
42.1
1.5
28.8
Intesa Sanpaolo
41.7
1.4
30.3
Reckitt Benckiser
40.9
1.4
31.7
SAP AG
40.5
1.4
33.1
WPP
38.7
1.3
34.5
Google
38.0
1.3
35.8
Danaher
36.8
1.3
37.1
Noble Energy
36.2
1.3
38.3
Toronto-Dominion Bank
34.9
1.2
39.5
GlaxoSmithKline
34.6
1.2
40.7
Roche
33.9
1.2
41.9
Twenty-First Century Fox
33.8
1.2
43.1
Blackstone
33.4
1.2
44.2
Sanofi
32.7
1.1
45.4
Deutsche Post
32.2
1.1
46.5
Friends Life
31.6
1.1
47.6
Swedbank
30.2
1.0
48.6
Continental
29.8
1.0
49.7
Amerisourcebergen
29.2
1.0
50.7
Oceaneering International
28.8
1.0
51.7
Aviva
28.8
1.0
52.7
Eni
27.9
1.0
53.6
Toyota Motor
27.7
1.0
54.6
Grupo Financiero Banorte
27.5
1.0
55.6
Novo-Nordisk
27.5
1.0
56.5
Marsh & Mclennan
27.4
1.0
57.5
Total
27.2
0.9
58.4
Glencore
27.1
0.9
59.4
Fanuc
27.0
0.9
60.3
Praxair
26.4
0.9
61.2
Diageo
26.4
0.9
62.1
China Gas
26.1
0.9
63.0
Samsung Electronics
25.6
0.9
63.9
Cadence Design Systems
25.5
0.9
64.8
Schlumberger
24.5
0.9
65.7
Monsanto
24.3
0.8
66.5
Aberdeen Asset Management
24.3
0.8
67.4
Schneider Electric
24.1
0.8
68.2
Azimut
23.6
0.8
69.0
Cummins
22.6
0.8
69.8
BASF
22.2
0.8
70.6
American Tower
21.8
0.8
71.3
Fomento Economico Mexicano
21.7
0.8
72.1
Intuitive Surgical
21.7
0.8
72.8
Rogers Communications
21.5
0.7
73.6
Unilever
20.5
0.7
74.3
Petrofac
20.2
0.7
75.0
Spark New Zealand
20.1
0.7
75.7
Standard Chartered
19.9
0.7
76.4
Seadrill
19.8
0.7
77.1
Zurich Insurance
19.8
0.7
77.8
Melrose Industries
19.5
0.7
78.4
Google
19.3
0.7
79.1
Humana
19.2
0.7
79.8
Henkel
19.2
0.7
80.4
Volkswagen
19.1
0.7
81.1
Bangkok Bank
19.1
0.7
81.8
Perusahaan Gas Negara
18.7
0.7
82.4
Eaton
18.6
0.6
83.1
Delta Lloyd
17.8
0.6
83.7
Charoen Pokphand Foods
17.4
0.6
84.3
Vodafone
17.2
0.6
84.9
Wisconsin Energy
16.1
0.6
85.4
Ascendas Real Estate Investment Trust
15.0
0.5
86.0
Plum Creek Timber
13.9
0.5
86.5
Cerner
13.3
0.5
86.9
Liberty Global
11.8
0.4
87.3
Rolls-Royce
11.7
0.4
87.7
Liberty Global
11.3
0.4
88.1
Vtech
11.2
0.4
88.5
Experian
10.8
0.4
88.9
Komercni Banka
10.7
0.4
89.3
Och-Ziff Capital Management
9.3
0.3
89.6
M1 Limited
9.1
0.3
89.9
Ashmore Global Opportunities
8.4
0.3
90.2
Sub Total Equities
2596.1
90.2
OEICS
Name
£m
% of Net Assets
Cumulative %
Monthly Income Bond Fund
123.1
4.3
94.5
Global Thematic Opportunities Fund
173.5
6.0
100.5
Dynamic Bond Fund
53.5
1.9
102.3
Sustainable Future Pan-European Equity Fund
54.3
1.9
104.2
Sustainable Future Cautious Managed Fund
10.2
0.4
104.6
Sustainable Future Defensive Managed Fund
10.2
0.4
104.9
Sub Total OEICS
424.8
14.8
Other Asset Classes
Name
£m
% of Net Assets
Cumulative (%)
Private Equity
131.4
4.6
109.5
Operating Subsidiaries
56.6
2.0
111.5
Property
4.5
0.2
111.6
Cash
28.0
1.0
112.6
Other Assets
17.1
0.6
113.2
Gearing
(380.0)
(13.2)
100.0
Net Assets
2878.6
100.0
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