Nearly one in three pension schemes have reduced their exposure to equities in the last year, according to the National Association of Pension Funds (NAPF).
Results from the second part of NAPF’s annual survey, released this week, show 30% of the members questioned, had reduced the proportion of equity investment in their portfolio over the past 12 months, while 25% had increased their bond holdings. Other findings from the second section of the survey, which focuses on investment, revealed 73% of the 350 members running defined benefit (DB) schemes believe their funding level exceeds 100% on a Minimum Funding Requirement (MFR) basis. In addition, the research shows public sector schemes are mire likely to have exposure to equity markets an...
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