Gilt crisis was major factor in £500bn hit to UK pension …

Pension funds after the gilts crisis: the big asset allocation rethinkLessons from the gilts crisis - Financial TimesGilts crisis undermines drive to use pension funds for economic growth

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Gilt Crisis Was Major Factor In £500bn Hit To UK Pension …

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Pension funds after the gilts crisis: the big asset allocation rethinkLessons from the gilts crisis - Financial TimesGilts crisis undermines drive to use pension funds for economic growth

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Gilt Crisis Was Major Factor In £500bn Hit To UK Pension Funds, MPs …

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Jeremy Hunt warns of ‘long path’ ahead to cut UK tax burden; UK’s largest private sector pension fund cautions ministers on reform ; Tories wrestle with failure to fix Britain’s housing crisis; …

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Supplementary Evidence From John Ralfe Consulting

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“Gilt crisis was major factor in £500bn hit to UK pension funds, MPs told” The FT sa id : “Giving evidence to the Commons’ work and pensions select committee, Iain Clacher, a professor at …

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Gilt Crisis Was Major Factor In £500bn Hit To UK Pension Funds, MPs …

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Gilt crisis was major factor in £500bn hit to UK pension funds, MPs told. 23 Nov 2022 17:41:12

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How did the gilt market rout affect UK pension funds?

Full For more information about how we use your data, please refer to our privacy and cookie policies. The gilt market rout that forced UK pension funds to rapidly sell assets in September contributed to driving down the value of retirement schemes by as much as £500bn, MPs were told on Wednesday. ...

Can pension funds sell fast in a crisis?

But the episode illustrates how wild swings in the gilt markets have taught UK pension funds an important lesson: assets that cannot be quickly converted to cash may deliver higher returns, but in a crisis pension schemes need assets they can sell fast. ...

Why did pension schemes sell gilts?

Pension schemes either sold gilts to get hold of ready cash to meet those collateral calls, or they were kicked out of their derivatives positions because they could not pay up in time and had to sell gilts to avoid having a naked exposure to further sharp moves. LDI funds also sold index-linked gilts to shore up the cash in their funds. ...

What happened to pension funds?

Pension funds became forced sellers of assets to meet these collateral calls. They dumped gilts, causing prices to fall further, and also slashed their holdings in the most liquid securities, such as corporate bonds and equities. ...

Why did pension schemes liquidate money market funds?

As Gilt yields moved higher at the end of September, pension schemes needed to act quickly to fund large margin calls. Many reported liquidating significant amounts of money market funds to post cash to collateralize their cleared and bilateral derivatives positions. ...

Is Britain's pension industry facing a'mini-budget crisis'?

Our Standards: The Thomson Reuters Trust Principles. Britain's pensions industry, Europe's biggest, is posing a new challenge to the country's 2 trillion pound ($2.5 trillion) government bond market a year on from the "mini-budget" crisis that put the sector at the centre of financial stability fears. ...