THE UTC COMMON INVESTMENT FUND
YEAR ENDED 31 DECEMBER 2024
The BlackRock, Insight, Legal & General and Ruffer investments are held in unitised pooled funds or segregated funds that have their own Custodians, as was the M&G investment prior to disposal in June 2024.
Investment strategy Details of the investment strategy are provided in note 11 to this report and financial statements.
The CIF Administrator manages the investment strategy in accordance with the Statement of Investment Principles produced by the Participating Scheme.
investments and considers them to be appropriate relative to the reasons for holding each class of investments. Further details of investments are set out in the notes to the financial statements.
Investment fees The investment managers are remunerated through unit values or on an invoice basis, based on the value of the investments under their management. Invoiced fees are paid by the Participating Scheme.
Investment performance Shown below is the percentage annualised return for the previous one, three and five years.
Year ended 31.12.2024
3 years ended 31.12.2024
5 years ended 31.12.2024
Scheme
UTC (UK) PS
(5.10)
(13.63)
(5.35)
Marketability All investments except for Secure Income (pooled) Funds are considered to be marketable on a short-term basis. Employer related investment At 31 December 2024, there were no holdings of assets that were indirectly invested in RTX Corporation, the ultimate parent of the principal employer of the Participating Scheme (2023: less than 0.01% through pooled investment vehicles with BlackRock). Socially responsible investment The Administrator has reviewed the policies of each fund and manager in which the CIF invests and is comfortable with the arrangements in place. Corporate governance The Administrator wishes to encourage best practice in terms of activism. The investment managers are therefore encouraged to discharge their responsibilities in respect of investee companies in accordance with
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