Why it pays to split the pot, or how to hedge your pension fund's bets

Following the recruitment of Andrew Gibson by Equity Insurance Group (EIG) as finance director in October last year, the company has been working on ways to better utilise the company's risk budget, to improve performance without a substantial increase in volatility.

The group was invested almost entirely in fixed-income assets, Gibson (pictured below) says, but he felt a reorganisation of its assets, in line with similar changes he had made at previous employer, Highway Insurance, could resu