THE UTC COMMON INVESTMENT FUND
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024
12 Concentration of investments
Investments accounting for more than 5% of the net assets of the CIF at the year-end date were:
2024
2024
2023
2023
%
%
Legal & General Secure Income Fund BlackRock Secure Income Fund
85,903 73,261
7.1 6.1
85,495
6.4 n/a
n/a
n/a relates to holdings that were below 5% in the relevant year.
13 Employer related investments
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).
14
Related party transactions
Employer and other related parties
There have been no direct employer related transactions during the year.
Withdrawals by the Participating Scheme amounted to £61,859k (2023: £55,391k) for the purposes of settling benefits due under the rules of the scheme and other operating costs.
The Participating Scheme incurred costs amounting to £1,115k (2023: £449k) net of rebates in connection with investment administration, management and custody of assets held through the CIF.
15
Contingent liabilities and contractual commitments
The CIF had no contingent liabilities at 31 December 2024 (2023: £nil).
There were no contractual commitments at 31 December 2024 (2023: the CIF had an unfunded commitment to invest £11.0m in the BlackRock Secure Income Fund).
16
Subsequent events
There are no subsequent events requiring disclosure within these financial statements.
23
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