The pension fund has committed to bringing its asset allocation into line with that of the Government Pension Investment Fund and has some mighty shifts to make in meeting that aim as the pie charts above show — the first for KKR and the second for GPIF, both at 31 December 2016.
The retirement scheme for civil servants who work for national government looks as though it will need some help cutting its government bond holdings — the bulk of which made by way of ‘duty investment’ in Fiscal Investment and Loan Program (FILP) and other debt imposed on it in a very different era. As this imposition was by way of guidance rather than legislation the necessary policy reversals should be relatively easy.
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This blog would not exist without the help and humour of Diane Stormont, 1959-2012