LONDON: Britain wants to build a slew of “megafunds” with up to £80bil or about US$102bil in fresh investment firepower, under plans for the biggest shake-up in pensions seen in decades, Finance Minister Rachel Reeves says.
Reeves is under pressure to address massive under-investment by British pension funds in domestic assets, with a recent collapse in allocations cited among the reasons the country’s lacklustre economic growth.
