‘I have a £150k pension and ISAs worth £35k, what else can I do to retire in nine years?’

Before the pandemic it was a largely a steady, long-term gainer, but since then its performance has struggled and it continues to veer away from the share price highs of February 2020, just before Covid arrived. 

But over the longer term there is considerable potential for the savings and investment market, especially given ageing demographics and likely welfare reform. For L&G, an ability to participate in this market on a number of fronts should provide opportunities for growth.

Despite a lot of uncertainty in the banking sector this year, with the US mid-sized banking crisis and the forced takeover of Credit Suisse, another one of your holdings, HSBC, has enjoyed an impressive share price climb over the past year and has a decent yield of more than 5pc – lots to get excited about. 

Its “price-to-book” ratio (its market value divided by the value of its assets) is towards the higher end at 0.9 – rivals Standard Chartered and Lloyds Banking Group are at 0.5 and 0.6 respectively. Not necessarily a bad thing, but it’s something to be mindful of. 

I’d say now may not be the best time to load up on more shares, particularly given the correlation between the banks and the economic backdrop; banks face a rising risk of loan losses at the moment.

You’ve done brilliantly to pick Ashtead Technology. While it is not offering much on the dividend side, its share price has enjoyed a stunning performance – a gain of around 50pc so far this year – and for good reason. 

As you probably saw, last month the company, an Aim-quoted specialist in subsea equipment, reported a sharp jump in first-half sales and profits, thanks to strong demand in offshore renewables as well as oil and gas. 

But a stock such as this does come with significant risk. Keeping your risk quite low at this stage of life would be a good strategy, so make sure Ashtead is just a small part of your portfolio.

In terms of changes or additions, I think you should add a few “core” positions that should provide steady growth and income via highly diversified portfolios. A common investment approach is to have the bulk of a portfolio in core strategies and then a number of “satellite” positions on the side, such as single shares or concentrated funds such as Fundsmith Equity, which owns just 27 stocks.

Portfolio building blocks to consider include Vanguard’s LifeStrategy 60pc Equity fund, which invests two fifths of its money in bonds and three fifths in stocks, or the iShares Core MSCI World Ucits ETF, which owns the 1,500 largest companies from developed countries. 

Both are part of our Super 60 list of recommended options and are a great way to “own the market” at low cost, rather than taking a punt on individual shares.

Also take a look at the Vanguard FTSE All-World High Dividend Yield Ucits ETF as a source of income. It is well diversified, owning 1,845 shares, and yields 3.6pc at the low cost of 0.29pc a year.

So I’d say focus on a combination of income and growth via some core funds to make up the majority of your portfolio. Then top up with smaller percentages of more adventurous holdings on the side if you wish.

Victoria is head of investment at Interactive Investor. Her columns should not be taken as advice or as a personal recommendation, but as a starting point for readers to undertake their own further research.