With-profits AVCs continue to cut equity exposure
UK - With-profits Additional Voluntary Contribution (AVC) pension funds have continued to chisel down their equities exposure over the past year, new research shows.
A survey by consultants Watson Wyatt shows the average allocation to UK and overseas equities of with-profit AVC funds is down to 40.4%, from 47.3% in the 2003 survey and 63.6% in the 2002 survey. The...
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