Pension funds: Cui bono?

The bottom-fishing season is open. A flurry of UK buy-out firms raising cash to snap up financial assets reflects the sector’s dire state. It certainly shows that some capital is available to support the industry. But the impact of scavenging for tasty morsels will be limited. Pension providers are likely to continue to struggle to keep their promises. Pension Corporation is raising £350m to £400m to bolster defined benefit schemes. Resolution Ltd, the investment vehicle launched by Clive Cowde...