Former chancellor Philip Hammond has said more needs to be done to boost UK pension funds’ investment in domestic markets.
Lord Hammond of Runnymede said a priority to tackle underinvestment and the UK’s weak growth should be steering “UK pension funds back towards investing in UK assets”.
He suggested the so-called Mansion House reforms may not be enough to achieve this because of their voluntary nature.
He said obliging UK pension funds to invest more domestically would help the UK economy out of its “doom loop”.
