UK pension funds raise cash holdings – Lipper
UK – Pension funds in the UK raised their exposure to cash investments in March, according to fund research firm Lipper.
“Pension funds raised their average cash exposure to 4.1% in March, up a percentage point,” said Reuters, citing data produced by its sister firm Lipper.
It added that funds cut their UK equity exposure to an average of 56.6% in March, down from 56.7% in February.
North American equities’ share of portfolios fell to 7.1% from 7.2%. Overseas equities’ allocation rose 25.2%, up a percentage point. Lipper measures pension funds with a total 94.1 billion pounds in assets.
Life insurers, worth a total 35.3 billion pounds, also cut UK equity allocation, to 57.3% from February's 57.9%. And overseas equities holdings rose to 24.1% from 23.8% in the previous month.