Personally I would definitely opt for higher risk/volatility/return funds at that age.
Being almost one third in bonds/cash makes no sense to me.
What are the charges like?
Are the management charges different for different funds?
Maybe moot if there's no other option here?
E.g. cheaper PRSA for AVCs?
What are the percentages after the funds?
The respective allocations of his 66% in equities?
Is that the full list of fund options available?