STEPHEN CRANSTON: Not much sense in growth market pension funds edging up exposure to fixed income
Listed equities are the backbone of pension fund investments and alternatives such as private equity can do even better
Growth markets — what used to be referred to as the third world — now merit a dedicated pensions survey from Mercer. The firm runs a duopoly with Willis Towers Watson when it comes to international pension consulting, so would have its hands full in the rich world. But it has just published an Asset Allocation Insights report on the main “third world” regions of the globe, Latin America, the Middle East, Africa and Asia.
It doesn’t have capability on the ground everywhere. In SA, for example, its strategic partner is Alexander Forbes — and to think 20 years ago Forbes had aspirations to become a global Mercer or Towers in its own right...