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Investment companies such as Aviva and Legal & General intend to allocate about 10 percent of the assets managed in their pension funds. The funds will be allocated for infrastructure initiatives, acquiring shares in private businesses, and investing in real estate.
"We back British firms and British employees," stated UK finance minister Rachel Reeves regarding the decision. "I applaud this brave step taken by our biggest pension funds. It will release billions of pounds for important infrastructure initiatives."
The choice to invest is optional, though the government has vowed to oversee the commitment.
On Tuesday, Britain's FTSE 100 stock index remained mostly stable. The indicator has increased by 5.3 percent since the start of the year.
source: theguardian.com
"We back British firms and British employees," stated UK finance minister Rachel Reeves regarding the decision. "I applaud this brave step taken by our biggest pension funds. It will release billions of pounds for important infrastructure initiatives."
The choice to invest is optional, though the government has vowed to oversee the commitment.
On Tuesday, Britain's FTSE 100 stock index remained mostly stable. The indicator has increased by 5.3 percent since the start of the year.
source: theguardian.com
