Has the pendulum swung too far from equities?

Invesco Perpetual’s Nick Mustoe asks if schemes are too shy of equities

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The drive to reduce perceived risk has the potential to bring about the single biggest actual risk to a pension fund investor: the risk that future liabilities won't be met.

What began in the late 1990s with legislation to restore some balance after pension funds had too much exposure to equities, has been replaced with what seems to be an irrational drive to continue ...

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