The HSBC Global Strategy Dynamic Portfolio is a fund that I don’t see high on the most bought funds lists among retail investors, but it has done well over that period and has a low annual fee of 0.21 per cent. It invests in index funds and exchange-traded funds (ETFs) managed by HSBC, with the majority in equities.

However, Volare Growth has lagged behind the pack over five years, up 19.6 percent compared to 26.3 percent. It is in the same sector as the Vanguard LifeStrategy 80pc Equity.

Volare Growth is a multi-asset fund with a small asset base of £42m. It is actively managed, which offers something different to the other two funds in your Sipp, which track the market rather than trying to beat it.

But Volare Growth’s performance has been underwhelming. If there are specific reasons why this fund has lagged, you may be inclined to stick with it. If not, it may be time to move on.

An actively managed multi-asset fund that our analyst team likes is Artemis Monthly Distribution. It typically holds 60 percent in stocks and 40 percent in bonds and has returned 36.1 percent over the past five years.

When you turn to your Isa and general investment account, you take a more cautious approach, but I assume this is intentional as you want to take money out of those two pots first.

You ask if your investments are too safe. While most people think of risk as losing money, academic finance defines risk as volatility. In simplest terms, it means how much the price of an investment fluctuates over a given period.

Those with a strong risk appetite will be comfortable with sharp ups and downs and willing to tolerate large losses for the prospect of large returns.

For more risk-averse investors, just earning some interest on their savings is more than enough, provided it keeps pace with inflation. This is usually called risk versus reward, and it is a personal decision.