Pension funds at risk from currency fluctuations
NEWS
According to research from WM, the data arm of State Street, UK defined-benefit pension funds' exposure to international equities rose from 21.8% at the end of 1996 to 31.0% in December 2006.
The UK defined-benefit market grew from £130 billion ($255 billion) to £201 billion over the period. International equity exposure grew from £28.3 billion to £62.3 billion.
Colin Crownover, head of currency management at State Street Global Advisor in London, explained that volatility in currency markets
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