G4S Annual Report and Accounts 2011

Overview Strategic review Performance
Notes to the consolidated financial statements continued
34 Retirement benefit obligations continued
The composition of the scheme assets at the reporting date is as follows:
UK
Rest of
World
Total
2011
Equity instruments 10% 34% 12%
Debt instruments 25% 44% 27%
Property 0% 4% 0%
Cash 28% 2% 26%
Other assets 37% 16% 35%
100% 100% 100%
2010
Equity instruments 18% 38% 19%
Debt instruments 16% 43% 18%
Property 0% 3% 0%
Cash 24% 2% 23%
Other assets 42% 14% 40%
100% 100% 100%
Other assets in the UK comprised a range of derivatives, private equity holdings, macro-orientated and multi-strategy alternative investments and a credit
portfolio including corporate bond exposure, credit long/short funds and distressed debt investments.
None of the pension scheme assets are held in the entity’s own financial instruments or in any assets held or used by the entity.
The expected weighted average rates of return on scheme assets for the following year at the balance sheet date are as follows:
Rest of
UK
World
Total
2011 (return expected in 2012) 5.7% 4.4% 5.6%
2010 (return expected in 2011) 7.0% 4.5% 6.8%
2009 (return expected in 2010) 6.9% 5.6% 6.8%
For the UK, the expected return on assets is based on the return targeted under the investment strategy. For the rest of the world, the expected rates of
return on individual categories of scheme assets are determined with respect to bonds by reference to relevant indices, and with respect to other assets by
reference to relevant indices of the historical return and economic forecasts of future returns relative to inflation in respect of assets of a similar nature. The
overall expected rate of return is the weighted average of the rates on the individual asset categories.
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G4S plc
Annual Report and Accounts 2011