UK pension funds still have 65% of their assets in equities, but the figure is still dropping, according to European Credit Management, which expects it to fall to 50%.
“Credit is becoming a core, must-have asset class,” Joe Biernat, head of research at ECM, said at a briefing in London last month. “A move to 50% of assets in fixed income would represent a switch of £100 billion [$177 billion].”
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