UK. I Don’t Want My Pension Funding Sunak’s Big Bang
The U.K. government is calling on the nation’s pension funds to participate in an “investment big bang” by allocating more capital to domestic and long-term illiquid investments. It’s a proposal that’s short on detail and fraught with difficulties, and one that pension fund trustees should treat with an abundance of caution. Prime Minister Boris Johnson and Chancellor of the Exchequer Rishi Sunak recently wrote an open letter to the overseers of Britain’s 2.6 trillion pound ($3.6 trillion) pension industry. They...
