How Brightwell navigates a world of change
‘One portfolio’ approach helped UK pension fund steer a course through trade turmoil, Covid and LDI crisis
In early 2020, Brightwell turned its investment process upside down – literally.
The manager of the UK’s BT pension scheme had previously followed a conventional strategic asset allocation framework, fixing the broad tracks along which its portfolio would run. Following the switch, Brightwell adopted a so-called ‘total portfolio’, or ‘one portfolio’ approach. Now the fund determines its allocation
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