SAUL combined growth with de-risking

High returns on a portfolio already 48% de-risked into bonds and other liability-driven investments

SAUL’s success provides a challenge to the view that the main problem with USS’s approach is their plan to de-risk out of growth assets and into bonds over the next twenty years. Here is SAUL’s current pension fund portfolio:

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Professor, Dept. of Philosophy, Logic & Scientific Method, LSE

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