John Redwood's piece in last week's PP - Look beyond gilts to cut deficits, (PP, 19 January) - argued that low gilt yields are a reason for trustees to seek out potentially higher yielding, riskier assets such as Chinese and Brazilian equities.
This analysis ignores the very harsh lessons of recent pension fund experience about failing to manage assets and liabilities in tandem. As it is, the approximate group of 40% of pension funds t...
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