UK - Barclays Bank UK Retirement Fund is to double its private equity exposure at the expense of equities and bonds.
It will aim to increase its private equity assets from 2% of the £11bn fund to 4% over the next two years.
Barclays pensions communications manager Caroline Rouse said: “The trustees believe that this is the best way to get the best return for members at the moment. They have a duty to get the best returns they can and they believe this is going to be a good way of doing it.”
Over the next two years the scheme will look to reduce an equal proportion of its assets from equities and bonds that are currently managed by Barclays Global Investors. This will be transferred over to current private equity fund manager, Cinven.
Trustees of the fund made the decision to increase its private equity exposure 15 months ago. Since then it has been researching what level of exposure to take and how best to do it.
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