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Damages Act 1996

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Changes over time for: Cross Heading: Notional investment portfolio

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Point in time view as at 01/07/2019.

Changes to legislation:

Damages Act 1996, Cross Heading: Notional investment portfolio is up to date with all changes known to be in force on or before 03 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

[F1Notional investment portfolioS.

12(1)As for the basis on which the rate-assessor is to proceed by virtue of paragraph 7(1), the notional portfolio is a combination of various types of things for investment in.S.

(2)In the table—

(a)the first column shows the types of things that the portfolio is composed of,

(b)the second column shows the percentage that each of the types of things is of the portfolio.

(3)Here is the table—

cash or equivalents10%
nominal gilts15%
index-linked gilts10%
UK equities7.5%
overseas equities12.5%
high-yield bonds5%
investment-grade credit30%
property (heritable or moveable)5%
other types (see the examples)5%

(4)Examples of other types as mentioned at the bottom of the first column of the table are infrastructure, commodities, hedge funds and absolute return funds.

13S.So far as necessary, if—

(a)an entry in the first column of the table is not ascribed meaning by regulations under paragraph 14, or

(b)any associated examples are not ascribed meaning by regulations under paragraph 14,

the entry is or (as the case may be) examples are to be interpreted by the rate-assessor as appropriate by bringing to bear professional knowledge of what the relevant terminology is commonly understood to mean in investment contexts.]

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