Boots announces pension U-turn - papers 28th May

Trustees of the pension scheme yesterday revealed they have now decided to switch 15% of the pension fund out of bonds as the original 2001 decision is seen as “very curious and one-sided” according to the original investment strategist, John Ralfe. It now appears some of that 15% will now be invested in equities - although trustees are refusing to say how much at this time – because there are not enough sterling-denominated bonds in the market to cover their liabilities. Allied Irish Banks is in trouble again after last night admitting to involvement in an offshore scheme to evade ta...