UK finance minister Jeremy Hunt announced Monday that nine of Britain’s biggest pension providers had agreed to increase their investments in high-growth UK companies, a move that he said could unleash up to £50 billion of funding if other pension funds followed suit. As part of the compact, firms including Aviva\n \n , Legal & General\n \n and Mercer have committed to allocate at least 5% of assets in their default funds to unlisted companies by 2030.
They build on the “Edinburgh Reforms” unveiled in December, which amount to the most significant overhaul of Britain’s financial services policy in two decades.
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