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Joined 1 year ago
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Cake day: September 13th, 2023

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  • On the actually change - if moving I to bugger funds allows for them to actually own companies etc, then I think this is a good idea.

    Aren’t pension funds supposed to spread their risks?

    But if they are forced to invest for economic growth instead of pension fund growth, then that’s bad.

    That appears to be the concern, that it will be used to invest in what the government wants to invest in, as a substitute for the government investing directly as they should be doing.

    The GMB expert also rubbished Treasury arguments that pooled assets can be used to invest into a wider range of riskier and long-term assets.

    “We are not speculators — we are not going to put it on the 4:30 at Haydock,” he said.

    He said Treasury plans to have each administering authority set targets for investment in their local economies was also wrong-headed.

    “We invest to get a return, we don’t invest in the local economy for the sake of it,” said Mr Georgiou.