ThreeBearsBalanced11Feb2018_UseEvenSmaller-Edited
contact
sitemap
place_for_equities
[long_equity_returns] [place_for_equities]

At the UK Actuaries’ Pensions Conference at Chester in 2002, one of the highlights was a debate between Jon Exley and myself. His stance was that there could never be any place for equities (or other real assets) within a “final salary” pension scheme's portfolio. Mine was that their presence could sometimes, but not always, be justified. On the day, I won by around 6:1! Here are my slides.