Annual survey shows move from equities to alternative assets

In its 39th annual survey, the National Association of Pension Funds has found a steady move from equities to alternative assets and a trend to de-risking at defined benefit pension funds.

In the survey, 40% of DB scheme respondents said that their appetite for liability-matching asset had increased in the last 12 months and over a third had invested a commercial real estate. In addition, 23% had invested in infrastructure and a further 18% had considered the asset class. NAPF chief executive, Joanne Segars, commented: “In an economic climate of long-term low interest rates, funds are considering how to broaden their investments. The NAPF has argued strongly for some time that it should be easier for institutional investors to invest in infrastructure as an asset class, and our survey shows growing member interest in this form of investment.”