UK - Three out of five schemes expect to increase their property weightings over the next few years, research by PricewaterhouseCoopers shows.
The consultant’s report – Property in Pensions: The forgotten asset class – says that while property weightings have dropped from 20% in the 1970s and 80s to 4% in 1999, interest in the sector has increased due to the downturn in equity markets.
The survey found that 60% of respondents anticipated both a short-term and medium-term increase in their overall allocation to property.
It also found that of the schemes which had invested in the asset class, more than 90% did so on a direct basis, rather than through property funds.
Externally managed pooled vehicles (71%) and UK limited partnerships (62%) were the most popular method for those investing in indirect property vehicles.
In addition to the core commercial property sectors, 50% of schemes have invested in niche markets such as leisure, hotels and residential.
The firm also found that 45% of schemes had investments outside the UK, particularly in Europe but also the US and Asia.
The Department for Work and Pensions (DWP) will develop and test new ways to include 4.8 million self-employed workers in pension savings.
Opt-out rates at the end of June 2018 "remained consistent" with levels before the April contribution rate increase, according the Department for Work and Pensions (DWP).
The Pensions Regulator (TPR) has appointed Charles Counsell as its new chief executive, who will take over from Lesley Titcomb next year.
The Financial Reporting Council (FRC) should be abolished and audit and advisory businesses should be split into separate entities to improve the sector for both savers and investors, two reports published today say.