For reasons best known to itself, the The National Education Union (NEU) has pumped three-quarters of its pension assets into risky “diversified growth” investments – what City sources say is a byword for hedge funds and private equity assets.
After inquiries from The Telegraph, the NEU said its pension trustees had conducted a review and will sell off riskier investments.
Some £119m is invested in the category, according to the latest accounts. And the 76% weighting of the overall portfolio caused alarm among pension experts.
Whether its members, who are currently striking for more pay, actually understand financial matters well enough to grasp the fact this is a high risk gamble with their pension remains to be seen!
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