Summary
A STUDY published yesterday by Aon Consulting found that while American pension funds have been increasing their exposure to equities in the past few years, British pension funds have been going the other way. The average UK fund is now more risk-averse than those in the US.
The figures don't seem large but the underlying shift is in fact much bigger than it appears. The proportion of US funds in shares moved up from 59% to 62% between 2002 and 2004. Over the same period, British plans' assets invested in equities dropped from 60% to 58%.See the full content of this document
Extract
Skewed by Unworldly Actuaries
But think what has been happening to those investments in that time.
Shares have risen by 20% or more since the end of the bear market while bonds have marked time or fallen as intere...See the full content of this document
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