Blow to Reeves as Lloyds’ Pension Arm Slashes Investment in UK

Scottish Widows has delivered a brutal snub to Rachel Reeves’ plan to encourage pensions funds to invest more in British stocks. The  pensions giant – part of Lloyds Banking Group – which manages £72 billion of workplace pension assets in its default funds, is planning to cut the allocation to UK equities in its highest growth portfolio from 12% to 3%.[…] Read the rest