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Scottish Widows plans to cut its allocation to UK equities and increase its exposure to US stocks, according to a report in the Financial Times.
Documents seen by the publication said the pension provider is planning to cut its allocation to UK equities in its highest growth portfolio from 12% to 3%.
The move by the Lloyds-owned provider comes amidst the government’s drive to encourage pension schemes to invest more in UK equities to boost growth.
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