Barclays 2008 Annual Report Download - page 240

Notes to the accounts
For the year ended 31st December 2008
238 Barclays PLC Annual Report 2008 |Find out more at www.barclays.com/annualreport08
30Retirement benefit obligations (continued)
Assets (continued)
The value of the assets of the schemes, their percentage in relation to total scheme assets, and their expected rate of return at 31st December 2008 and
31st December 2007 were as follows:
2008
UK schemes Overseas schemes Total
% of Expected % of Expected % of Expected
total fair rate total fair rate total fair rate
value of of value of of value of of
Value scheme return Value scheme return Value scheme return
£m assets % £m assets % £m assets %
Equities 5,813 43 8.5 217 23 9.3 6,030 42 8.5
Bonds 6,360 47 5.3 166 17 6.2 6,526 45 5.3
Property 1,214 9 7.2 16 2 13.4 1,230 87.3
Derivatives (420) (3) – – ––(420) (3) –
Cash (131) (1) 2.0 415 43 7.6 284 2 3.9
Other 701 5 7.4 145 15 6.4 846 6 7.2
Fair value of plan assetsa13,537 100 6.8 959 100 8.0 14,496 100 6.9
2007
UK schemes Overseas schemes Total
% of Expected % of Expected % of Expected
total fair rate total fair rate total fair rate
value of of value of of value of of
Value scheme return Value scheme return Value scheme return
£m assets % £m assets % £m assets %
Equities 7,467 43 8.3 441 55 8.4 7,908 44 8.3
Bonds 7,445 43 5.1 300 38 7.6 7,745 43 5.2
Property 1,712 10 7.0 16 2 11.5 1,728 10 7.0
Derivatives (12) –––––(12) ––
Cash 284 2 5.1 42 5 5.6 326 1 5.2
Other 335 2 5.3 (3) ––332 2 5.4
Fair value of plan assetsa17,231 100 6.7 796 100 7.8 18,027 100 6.8
The UKRF plan assets include £27m relating to UK private equity investments (2007: £39m) and £735m relating to overseas private equity investments
(2007: £664m). These are disclosed within Equities.
Amounts included in the fair value of plan assets include £5m (2007: £6m) relating to shares in Barclays Group, £11m (2007: £6m) relating to bonds
issued by the Barclays Group, £nil (2007: £nil) relating to other investments in the Barclays Group, and £17m (2007: £10m) relating to property occupied
by Group companies.
The expected return on assets is determined by calculating a total return estimate based on weighted average estimated returns for each asset class.
Asset class returns are estimated using current and projected economic and market factors such as inflation, credit spreads and equity risk premiums.
The Group actual return on plan assets was a decrease of £3,480m (2007: £731m increase.)
Note
aExcludes £675m (2007: £782m) representing the money purchase assets of the UKRF.