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The National Association of Pension Funds has delayed plans
to encourage the country's largest pension funds to invest in
the smallest publicly listed firms until next year.
Small-firm lobby groups had hoped the association, which represents
occupational pension fund trustees, their sponsoring companies
and the wider industry, would use its autumn conference to launch
the initiative, with ministerial support. But the plans
have been put back, in part because Malcolm Wicks, the pensions
minister, is understood to want to use the conference to explain
the Government's strategy on pensions, given current concerns
over the lack of long-term saving.
John Pierce, chief executive of the Quoted Companies Alliance
(QCA), which lobbies for greater institutional investor interest
in the small cap and fledgling FTSE indices, said the delay was
"frustrating". "We would like to move on this
but we have to accept that a group in our position can only do
so much without the co-operation of others," he said.
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