Myners' Influence on UK Pension Funds Wanes
The impact of the two-year old Myners report on pension funds is diminishing, according to a new survey by JPMorgan Fleming. The survey, which looks into the attitudes of pension schemes towards alternative investment strategies, found the number of schemes that expect Myners to increase private equity investment in the UK economy fell from 36 per cent in 2001 to 26 per cent in2002. With regard to the impact of Myners on the use of hedge funds in pension funds investments, only 15 per cent of schemes thought that Myners would result in an increase in hedge fund investment. And whilst 52 per cent of schemes surveyed thought Myners would not result in an increase in hedge fund investment, 71 per cent said that Myners had not caused their schemes to re-appraise their attitudes to investment in hedge funds.