Docusign Envelope ID: 7C50003C-051D-4E0C-907A-F452AD5C4EA2
UNITED TECHNOLOGIES CORPORATION (UK) PENSION SCHEME YEAR ENDED 31 DECEMBER 2023
NOTES TO THE FINANCIAL STATEMENTS
20 Concentration of investments
Investments accounting for more than 5% of the net assets of the Scheme at the year-end date were:
Proportion of net assets (%)
Proportion of net assets (%)
2023
2022
127,900
8.1
Asset Backed Funding – Goodrich ABC
123,600
7.9
92,100
5.8
Asset Backed Funding – UTC ABC
89,000
5.7
85,496
5.4
Legal & General Secure Income Fund
79,730
5.1
With the exception of the Asset Backed Funding arrangements (detailed in note 13) the above investments are pooled investment vehicles which have multiple underlying assets, none of which exceeds 5% of the net assets of the Scheme.
21 Employer related investments
At 31 December 2023, less than 0.01% (2022; 0.01%) of the assets were indirectly invested in RTX, the ultimate parent of the principal employer of the Scheme through pooled investment vehicles with BlackRock (2022; BlackRock and Legal & General).
With the exception of AVCs, Asset Backed Funding and Insurance policies, all investment assets are managed within the CIF.
22 Current assets
2023
2022
-
804
Contribution debtors - employers
1,410 2,180
Accrued income - Asset Backed Funding
1,360 2,140
Prepaid pensions VAT recoverable Cash balances
134
137
2,784
5,096
6,508
9,537
23 Current liabilities
2023
2022
452 772
192 687
Unpaid benefit creditors Accrued expenses Prepaid contributions
2,956
2,956
329
282
PAYE and taxes
4,509
4,117
44
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