UK -The British Airways Pension Scheme (APS) and New Airways Pensions Scheme (NAPS) have invested 1% each in commodities.
The two pension schemes, which have assets under management of almost £14bn, made the decision in invest in commodities in an effort to achieve further diversification away from equities.
John Birch, managing director of the firm looks after the benefit administration for the two schemes, said the investment had been made through a commodity vehicle.
He said: “We had property for many years. This is another area of diversity and there are others that are being considered.
The Pensions and Lifetime Savings Association (PLSA) is in the process of convening an industry-wide group to take forward the work of the Institutional Disclosure Working Group (IDWG).
The Transfers and Re-registration Industry Group (TRIG) has given its support to an initiative which aims to complete occupational pension transfers within three weeks.
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.