Freefalling dollar wipes £10bn off scheme gains

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SCHEMES have seen investment gains of over £10bn wiped out by falls in the value of the US dollar, Professional Pensions can reveal.

Figures provided by WM Company show that UK schemes hold around 10pc of their total assets in US equities – shares worth in the region of £70bn at the start of 2006. But while the S&P500 gained ...

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