Dividends: a step change in focus

Natasha Browne asks whether dividends or capital growth are more important to pension funds

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Many defined benefit (DB) pension schemes are entering a different cash flow phase whereby the balance of importance between dividends and capital growth is changing.

Historically, schemes have harnessed capital growth to maximise their future returns, but as the need for more immediate return grows, dividends have a new role to play. Buck Global Investment ...

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