UK local authorities shunning LDI strategies

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The UK government needs to do more to ensure the country's local authorities adopt liability-driven investment (LDI) strategies in order to reduce their pension deficits, say asset managers. "It is in the government's interest to ensure that the investment policies of public sector pension schemes are prudent enough so that the taxpayer is not footing the bill unnecessarily," says Richard Watts, co-head of asset liability management and insurance at F&C Asset Management in London. "Local aut