As at 1 July 2008 we were invested in corporate bonds from the following companies:
| Abbey National | KBC Bank NV |
| ABN AMRO Bank | Kredit Fuer Weideraufbau |
| Alliance and Leicester | Land Securities |
| Allied Irish Banks | Legal & General Group |
| American International | Lloyds TSB |
| Anglian Water | McDonalds Corp |
| Argon Capital PLC | Mediobanca |
| ASIF II | Mellon Capital III |
| ASIF III | Merrill Lynch |
| Assicurazioni Generali | Metlife Inc |
| Australia and New Zealand Bank | Morgan Stanley |
| Autostrade Spa | Munich Re |
| Aviva PLC | National Captial Trust |
| AXA | Nationwide Building Society |
| Bank of America | Network Rail |
| Bank of Ireland | New York Life Funding |
| Bank of Scotland | Nordea Bank Finland |
| Barclays Bank | Northern Rock |
| Birmingham Airport Finance | Pacific Life Funding |
| BK Nederlandse Gemeenten | Prinicpal Fin Global Fund |
| BMW Finance | Punch Taverns Finance |
| BNP Paribas | Rabobank Nederland |
| Bradford and Bingley | RBS Capital |
| Britannia Building Society | Rolls-Royce PLC |
| Centrica | Royal Bank of Scotland |
| Chelsea Building Society | Santander Issuances |
| CIT Group | Scottish and Southern Energy |
| Citigroup | Scottish Power |
| Citigroup Capital | Scottish Widows |
| Clerical Medical | Severn Trent Water |
| Coca-Cola Enterprises | Siemens Financiering |
| Commerzbank AG | SLM Student Loan |
| Credit Agricole | Societe Generale |
| Credit Suisse GP Finance | Society of Lloyds |
| Danske Bank | Southern Gas Networks |
| DNB Nor Bank ASA | Standard Chartered BANK |
| E.ON International | Stockland Finance PTY |
| EDP Finance | Suncorp Insurance Funding |
| Enel Societa | Svenska Handelsbanken |
| European Investment Bank | Swiss Reinsurance |
| France Telecom | TCNZ Finance |
| General Elec Cap Corp | Telestra Corporation |
| Generali Finance | Tesco PLC |
| Goldman Sachs Group | Transco PLC |
| HBOS PLC | TSY |
| HSBC | UBS AG/Jersey Branch |
| Hutchison Whampoa Financial | Unicredito Italiano |
ING Group NV | Unique Pub Finance Co PLC |
| Insurance Australia | United Utilities Water PLC |
| JP Morgan Chase Bank | Westfield Financial |
