UK telecommunications giant BT Group Plc’s pension plan (the UK’s largest) is shifting about a third of its UK equity holdings, or about 3 billion pounds, into alternative assets, the Financial Times said on Saturday. The newspaper said the move by Hermes, BT’s pension fund manager, represents one of the biggest single shifts away from the London stock market by a UK pension fund in recent years. Hermes is now run by former CalPERS executive Mark Anson. CalPERS is a pioneer of alternative investing by US pension funds.
BT Pension Fund To Shift GBP3 Billion Into Alternatives, Says FT
UK telecommunications giant BT Group Plc's pension plan (the UK's largest) is shifting about a third of its UK equity holdings, or about 3 billion pounds, into alternative assets, the Financial Times said on Saturday. The newspaper said the move