UK Plans to Force Nation's Pensions to Invest in Private Markets
The UK said it plans to require the country's pension funds to invest in private markets and the domestic economy, a move widely opposed by the City of London's investment managers.
The government 'will take a reserve power in the pension schemes bill to set binding asset allocation targets' for investments in private markets, the Treasury said Thursday in an emailed statement. It also will secure £27.5 billion ($37 billion) for 'local investment priorities' from defined-benefit programs for public employees.
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