UK Pension Funds Commit £50 Billion to Boost Economic Growth
Major British pension funds have pledged to invest up to £50 billion into UK businesses and infrastructure. Seventeen investment firms, including Aviva and Legal & General, aim to invest up to 10% of their portfolios by 2030. This initiative seeks to enhance growth and financial security for pension savers.
In a significant financial move, major British pension funds announced their commitment to funnel up to £50 billion into the economy. This investment aims to stimulate businesses and infrastructure development across the UK as part of an effort to boost economic growth.
This historic pledge involves 17 investment companies, among them giants like Aviva, Legal & General, and M&G, promising to allocate up to 10% of their portfolio to sectors including infrastructure and private equity by the year 2030. Half of these investments will be reserved for assets within the UK.
This initiative is not only set to enhance the financial security of millions of UK pension savers but is also projected to drive the national market to a new high, with projections estimating the market to surpass $30 trillion by 2030.
(With inputs from agencies.)
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