PE editor Ian Smith

Editor's blog: Here are five data lessons for institutional investors from UBS Global Asset Management's Pension Fund Indicators 2014 – from the slowdown in the rush out of equities, to steady growth in fixed income.

The departure from equities has slowed... 

On the graph below, the blue and tan-coloured bars represent UK and overseas equities respectively. After a decade of reductions, the trend away from them has levelled out.

Obviously, the performance of equity markets will have pushed up the proportion of equities in schemes' portfolios, but such performance also weakens the case to sell.

"When the performance is so strong, it kind of seems rude to rebalance out of it, especially when it's your home market," commented Ian Barnes, head of UK & Ireland at the asset manager. All charts and data are sourced from UBS unless otherwise stated.

UBS asset allocation

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