CHILE - The Central Bank of Chile has raised the amount of assets pension funds can invest internationally to 80% from 60%.
The bank said yesterday it would raise the limit gradually, rising by five percentage points every three months starting December. The limit will reach 80% by September 2011.
The modification reflects the government's economic policy, the bank said in a statement.
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.