Asset classes over individual

The trend away from defined benefit (DB) schemes in favour of defined contribution (DC) stakeholder and contracted-in money purchase schemes (Cimps) is accelerating at a time of volatile markets and negative returns. This will prove a tough test for the systems DC providers and trustees have put in place to identify and sack underperforming investment managers. Where the managers do an acceptable job but markets are falling, it will also raise questions over the influence of disgruntled, but perhaps unsophisticated, scheme members who may associate short-term poor performance with the ma...