Image:
Hans Stoter
The fallout from the gilt crisis following September’s ill-fated Mini Budget – particularly the impact on liability-driven investment (LDI) – has adopted almost soap-opera status in the last few months, with new revelations still coming to light.
But behind the headline stories, a more concerning plot twist is taking place. LDI managers are using the crisis as an excuse to further ‘grab assets' from defined benefit (DB) pension schemes. ...
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