EUROPE - VKG, the 18,000-member pension fund for doctors, dentists and pharmacists, decided in April to change its strategic asset allocation away from equities, in a move to protect itself from declining equity markets.
From an asset allocation of 55% to equities it has moved to a 45% allocation. This was a big step for a fund which normally sets its strategy for a seven year period. “Forty-five per cent to equit...
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