Your pension fund is right to flee Labour’s Britain
One of Chancellor Rachel Reeves’s few big ideas for boosting growth was to persuade pension funds to invest more of their assets in Britain. But hold on. Today, we learned that Scottish Widows, one of the biggest funds, is dramatically reducing its exposure to this country – and it is quite right to do so. Over the last decade, the S&P 500 has delivered a total return of 235 per cent, compared with just 92 per cent for the FTSE 100 The fund managers at the Lloyds-owned Scottish Widows, which controls £72 billion of workplace pensions assets, clearly didn’t get the memo about how this was the moment to put
